Capital gains on inherited shares

dannio92

Hi
I inherited shares from a relation on his passing over 10 years ago.
I believe that if I sell the shares capital gains tax would be paid if the value of them is more than when I inherited them?

 Also how do I find the value of them from the date of my inheritance 
 and what if the value is less now 
thanks 

Ferro

dannio92 said:

Hi
I inherited shares from a relation on his passing over 10 years ago.
I believe that if I sell the shares capital gains tax would be paid if the value of them is more than when I inherited them?

 Also how do I find the value of them from the date of my inheritance 
 and what if the value is less now 
thanks 

Google ‘Investopedia’s market section’ and you should be able to ascertain historical share prices. 

https://www.investopedia.com/ask/answers/find-historical-stock-index-quotes/#:~:text=If%20you're%20looking%20for,search%20box%20on%20the%20page.

You are correct in your assumption that capital gains would be payable on the difference between sale price and inherited price. 

Losses must be set against any gains in the same year, thereby reducing the overall gain. 

dannio92

Thanks but this appears to be a USA based site ?

JGB1955

Try Data archive - research currencies, commodities, bonds, equities - FT.com  Use the search facility opposite 'Data Archive'.

Bookworm105

bear in mind you are required to use the closing price of the share on the day the person died, see HMRC rules here : 
Valuing stocks and shares for Inheritance Tax - GOV.UK (www.gov.uk)
therefore if your source shows only one value it will (may) be one day behind as that day's list will be the previous days close, so you may need to use the figure for the following day.

you have to pay to use the FT historical data link given in the post above

a free to use online source is Yahoo  Symbol lookup from Yahoo Finance
- click on the "quote lookup box" 
- search by share name (make sure you find the correct share as many companies may have all sorts of different shares in circulation over time)
- click historical prices tab
- the closing price is listed for each day going back many decades (click on the time period tab and select the right date) 

eskbanker

dannio92 said:

I inherited shares from a relation on his passing over 10 years ago.
I believe that if I sell the shares capital gains tax would be paid if the value of them is more than when I inherited them?

CGT is only payable if the gain exceeds your annual exempt amount, currently £3K, so if the chargeable gain is more than this, it may be sensible to stagger the sales over multiple tax years if you're not in a desperate hurry to liquidate the proceeds?

As well as the above independent sites, the websites of listed companies will usually include a shareholder information section with share price histories - wherever you source the data from, make sure the figures take account of any share splits, etc.  Feel free to share details of which specific shares you're referring to....