Ascertaining purchase price for CGT

Hoenir

Out of curiosity what's the base price per share that you are using. 

Beddie

1spiral said:

Presumably transferring half to my spouse doesn't get round the issue of value when I acquired them. Presumably her gain would still be the same as mine i.e. the transfer to her would not reset the CGT starting price?

As an aside, abrdn have advised me of the registrar so I have emailed them.

It doesn't matter what the initial value is if you sell to keep below the CGT limits, as explained above. You don't even need to report a gain below the allowance to HMRC.

1spiral

Hoenir said:

Out of curiosity what's the base price per share that you are using. 

422.0457p. Thats what it says on iweb based on what I told them the start value (8500 for 2014 shares) was when I acquired them. The problem is I can't now see where I got that original valuation from and hence how accurate it is.

wmb194

1spiral said:

Hoenir said:

Out of curiosity what's the base price per share that you are using. 

422.0457p. Thats what it says on iweb based on what I told them the start value (8500 for 2014 shares) was when I acquired them. The problem is I can't now see where I got that original valuation from and hence how accurate it is.

422p is in the ballpark of where it traded during 2003/4 when they were transferred to you so it might not be a bad guess.

Edit: How would the CGT look if you used the lowest price in the period, 413p? 

1spiral

The problem is I am guessing as to what year I acquired them. I think it was around 2005 but may have been 2007 or 2008. 15-20 years is a long time to remember. I was assuming there'd be an easy way to get this info. The problem is if I don't know, how do HMRC know?

With regards to using the lowest figure it would add about £180 to the gain for 2000 shares.

I think I'll have to wait and see if the registrars can help me.

masonic

1spiral said:

The problem is I am guessing as to what year I acquired them. I think it was around 2005 but may have been 2007 or 2008. 15-20 years is a long time to remember. I was assuming there'd be an easy way to get this info. The problem is if I don't know, how do HMRC know?

With regards to using the lowest figure it would add about £180 to the gain for 2000 shares.

I think I'll have to wait and see if the registrars can help me.

If you sell at a rate to keep the worst (or is it best?) case gain below the 2 x annual allowance after gifting half to spouse, then HMRC has no need to know.