Santander Shares and my tax return

Vegastare

The share price is about £3.50 Uk 3.94 euro today.....but I honestly and a idiot with these things.


I found this on a shareview explanation of spanish tax etc which was about selling these shares.

so assume it has something to do with what Rosygale mentioned. I have spoken to Equit!!!! whatever regarding my dividend coming to me in shares and they were helpful.



For shares acquired as a result of Banco Santander’
s acquisition of Alliance &
Leicester the acquisition cost will be €11.23 per s
hare.
For shares acquired as a result of Banco Santander’
s acquisition of Abbey the
acquisition cost will be €8.44 per share.

rachlikeswinter

Vegastare wrote: »

The share price is about £3.50 Uk 3.94 euro today.....

For shares acquired as a result of Banco Santander!!!8217;
s acquisition of Abbey the
acquisition cost will be !!!8364;8.44 per share.

Oh so quite a way to go then - we only have to pay the tax if it goes above 8 euro odd when we sell?

(How much is this tax anyway?)

pearl123

I found this.

"What if I sell my shares at a loss?
If you sell you shares at a loss no gain is realized and there is therefore no need to complete a form. However, unless you bought your Spanish shares in the market, you should bear in mind that the relevant acquisition price for determining whether a gain has been made will be the value attributed to the share at the date of takeover. The average price of your shares may have been reduced if the 2009 rights issue was taken up. For ex-Abbey National shares the acquisition price is E7.58 (note - euros) with the rights or E8.44 without. So, at current exchange rates, if these shares are sold now for more than £6.60 (or £7.40 without rights), a 210 form will be required.

The notional acquisition price for ex-Alliance and Leicester shares was E9.81 (with rights) or E11.23 (without) so, at current exchange rates, if these shares are sold now for more than £8.60 or £9.80 or so a 210 form will be required."

This appears to be an official site, as it is suggested by equniti.
http://spanishtaxforms.co.uk/about-us.html

See the original on the link. It's looking like it might be a good time to sell.

hgm

You can't use the current exchange rate for the acquisition price of the A&L takeover shares. Needs to be the rate in 2008. I haven't got a figure at takeover date but on 1 Jan 2009 the share price was £6.40. (Probably slightly less at actual takeover.)
My original 250 A&L shares peaked at about £2880 in 2007. I have just sold my 83 Santander shares for £310.20!
I don't wish to fill in Spanish tax forms either.

Vegastare

I do not wish to utter the B..... word :rotfl::rotfl:but I will see what Oct 2018 brings, we might see shares get better or worse. We may see relations with Spain change somewhat.



If they go up a wee bit I shall certainly sell them, my concern is about the shares that I have gained from the dividend, this only started a couple of years ago though.


I have had my shares for over 20 years inherited from my late Dad. Abbey National buy out....

rachlikeswinter

Vegastare wrote: »

my concern is about the shares that I have gained from the dividend

Why? Are there different rules to shares you've acquired since your original batch from the buy out?

eskbanker

Vegastare wrote: »

I will see what Oct 2018 brings, we might see shares get better or worse.

Apart from the very slim possibility that they remain exactly static, I think you've covered the bases there

pearl123

pearl123 wrote: »

I found this.

"What if I sell my shares at a loss?
If you sell you shares at a loss no gain is realized and there is therefore no need to complete a form. However, unless you bought your Spanish shares in the market, you should bear in mind that the relevant acquisition price for determining whether a gain has been made will be the value attributed to the share at the date of takeover. The average price of your shares may have been reduced if the 2009 rights issue was taken up. For ex-Abbey National shares the acquisition price is E7.58 (note - euros) with the rights or E8.44 without. So, at current exchange rates, if these shares are sold now for more than £6.60 (or £7.40 without rights), a 210 form will be required.

The notional acquisition price for ex-Alliance and Leicester shares was E9.81 (with rights) or E11.23 (without) so, at current exchange rates, if these shares are sold now for more than £8.60 or £9.80 or so a 210 form will be required."

This appears to be an official site, as it is suggested by equniti.
http://spanishtaxforms.co.uk/about-us.html

See the original on the link. It's looking like it might be a good time to sell.

After finding this material I sold my 100 shares for £371 on Friday. I did ask a customer service representative at equinti if I needed to fill out a form and they said they had no idea.

Vegastare

Thanks Pearl at least I have all the right info when I decide to shift them

anaita

Anyone had to do Spanish tax as l wont to sell my 100 shares worth only £300 now and was told that l will have to declare Spanish tax and can you tell me what forms l will have to do thank you