old shares in parents name how to find out how much paid for them?

anna42hmr

This may seem a daft question, but my dad and mom held shares in Lloyds TSB and did so for a number of years.  Dad passed away 3 years ago, and at the time Equiniti just removed dads name and they are in moms name alone.  

However, should mom choose to sell these shares, how do we find out how much they were bought for?

Going through dad's papers we had been unable to find any more information other than copies of documents showing how many they owned. I am now realising that we may need this down the line for capital gains calculations should mom sell them at some point? 

refluxer

According to Wikipedia, Lloyds TSB Group changed its name to Lloyds Banking Group in January 2009 so the first thing you might want to do is look into what shares you actually have (and how many) and also look into whether the subsequent Lloyds and TSB demerger had any affect on that, too.

There's some info in this MSE thread : https://forums.moneysavingexpert.com/discussion/2336015/lloyds-tsb-shares

Lloyds Banking Group shares currently look to be worth a fraction of what they were in the late 1990s and most of the 2000s so if they were bought around then, you might even be looking at a loss rather than a gain. (I'm not sure if mergers/de-mergers skew the graph, however)...

https://www.google.com/finance/quote/LLOY:LON?authuser=0&window=MAX

If you know when the shares were bought, then you can use that graph to get an idea of the market value at the time for the purposes of doing your own, rough CGT calculation.

Do you know if the shares were all bought at the same time ? If they were bought at different times, then there are special rules for working out any capital gains : https://www.gov.uk/tax-sell-shares/same-company

TheBanker

Are you sure they were even bought? When my dad passed I found he owned some LBG shares. He'd never bought them, he'd had an account with the Halifax Building Society for decades and received shares they de-mutualised.  Halifax then merged with Bank of Scotland to form HBOS, which in turn was taken over by LBG during the Financial Crisis. My dad never did anything with these shares, he just received the occasional dividend cheque. 

wmb194

anna42hmr said:

This may seem a daft question, but my dad and mom held shares in Lloyds TSB and did so for a number of years.  Dad passed away 3 years ago, and at the time Equiniti just removed dads name and they are in moms name alone.  

However, should mom choose to sell these shares, how do we find out how much they were bought for?

Going through dad's papers we had been unable to find any more information other than copies of documents showing how many they owned. I am now realising that we may need this down the line for capital gains calculations should mom sell them at some point? 

How much are they worth? The annual CGT allowance at the moment is £3,000 so if below this and there are no other capital gains or losses to consider I wouldn't worry about it.

anna42hmr

sorry for the delay in replying, after some extensive digging around in boxes in my parents loft lol finally managed to find a note of when they were bought (5 may 2017), so looking at the share price then vs now, looks like they are still at a loss fractionally, so don't have to worry about CGT for now at least (62.60p a share now but looking on line the date we can find the purchase of looks to have been around 67p per share.  

thanks for your help and your suggestions all, much appreciated.  

silvercar

anna42hmr said:

sorry for the delay in replying, after some extensive digging around in boxes in my parents loft lol finally managed to find a note of when they were bought (5 may 2017), so looking at the share price then vs now, looks like they are still at a loss fractionally, so don't have to worry about CGT for now at least (62.60p a share now but looking on line the date we can find the purchase of looks to have been around 67p per share.  

thanks for your help and your suggestions all, much appreciated.  

Thanks for reporting back. I’m slightly disappointed that they were bought in 2017 rather than say 1917! They aren’t very old at all.

anna42hmr

lol to be honest had no idea what age they would've been as prior to his retirement (pre 2017) he had worked for Lloyds TSB/Lloyds Banking group for over 40 years. As such  he had took part in share plans etc for employees over the years, however he had cashed majority of those over the years and from what I thought initially he had none left (as he got rid of all that was left at the point of his retirement.  

This must have been a batch he decided to take a punt on in 2017 (he had been retired for a number of years by that point) as looking at the reports the purchase date also is around when government no longer had government stake in LBG.  Moms going to hold on for them for now any way as she's happy enough leaving it to roll over with the dividends she gets and will keep an eye on the price, but at least that mystery is somewhat solved for now. 

Edi81

If they were bought in 2017 then they would be Lloyds Banking Group. They changed their name in 2009 from Lloyds TSB Group as part of the HBOS acquisition.