Capital gains on gifted shares from private Ltd co

diveleader

Good Morning

I am in the process of completing my tax return and have the following question:

I was gifted some shares in a family owned Ltd company approx. 10 years ago.

This company was voluntarily wound up by its members and I was paid for my portion of shares (approx. 60k).

In calculating the capital gain what value do I put to the price of the shares when I first obtained them?

The shares had a nominal value of £1 per share, so I was going to use this.

However another family member states that the value of the shares when originally transferred to me should be the value of the company divided by the total number of shares (value of company /total no of shares x no of shares gifted to me).

Before I contact my accountant, what is your idea of the correct cost of shares at acquisition?

Thanks

Pennywise

Assuming you did't buy them and that they weren't gifted by your spouse, you have to use market value for your acquisitions and all gifts you've made to others.