We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
CGT over 30 years ago
Options
Skibunny40
Posts: 447 Forumite
in Cutting tax
My mum wants to cash in some of the shares she bought during the Thatcher years, and some of the ones she got for free during the period when building societies became banks but we're thoroughly confused by CGT rules.
So for her Abbey national shares, which became Santander, is the amount for capital gains purposes basically the difference between £0 and their value on the day they are sold (as Santander shares) or does the value when they changed from Abbey to Santander have anything to do with it?
Similiarly with SSE shares which was Hydro Electric - she used the dividends to automatically buy more shares, does that affect anything? Also, she thinks she got 2 shares for each one she originally held - could this be right and if so, does that make a difference?!
She's contemplating only selling £12k worth (current value) as that seems the safest/easiest option as that's her allowance for the year and wouldn't require her to report anything, or work out complicated sums from 40 years ago - but I'm now wondering if even that's right! Thanks in advance for any help.
So for her Abbey national shares, which became Santander, is the amount for capital gains purposes basically the difference between £0 and their value on the day they are sold (as Santander shares) or does the value when they changed from Abbey to Santander have anything to do with it?
Similiarly with SSE shares which was Hydro Electric - she used the dividends to automatically buy more shares, does that affect anything? Also, she thinks she got 2 shares for each one she originally held - could this be right and if so, does that make a difference?!
She's contemplating only selling £12k worth (current value) as that seems the safest/easiest option as that's her allowance for the year and wouldn't require her to report anything, or work out complicated sums from 40 years ago - but I'm now wondering if even that's right! Thanks in advance for any help.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards