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CGT over 30 years ago
Skibunny40
Posts: 455 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.
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