Original share price for Abbey National/Santander

frankiesowner

Like many back in the day I was given 100 abbey national shares when it went public. Then it was acquired by Santander. I recently sold the Santander shares but don't know what the original share price was so I can calculate the gain for CGT purposes. Does anyone know what the share price was that I should use?  Thanks. 

Peter999_2

According to Wikipedia it was £1.30 however, they have no links to back that up.

Abbey National - Wikipedia

FrugaiMacDugal

With 100 shares will you exceed the CGT allowance?

TadleyBaggie

I had an Abbey National mortgage from 1976 until 2008 or so and a few savings accounts. Can't recall getting any free shares...

glennevis

If you were given the shares the original purchase price for CGT purposes was £0.00.

Renfrewman

Definitely were £1.30.

DRS1

glennevis said:

If you were given the shares the original purchase price for CGT purposes was £0.00.

I do recall there were some free shares - you may also have bought some in the initial offer but the safest figure to use is this one - NIL

Hattie627

frankiesowner said:

Like many back in the day I was given 100 abbey national shares when it went public. Then it was acquired by Santander. I recently sold the Santander shares but don't know what the original share price was so I can calculate the gain for CGT purposes. Does anyone know what the share price was that I should use?  Thanks. 

If you were given the shares (ie didn't pay for them), the acquisition cost for CGT is nil.

wmb194

frankiesowner said:

Like many back in the day I was given 100 abbey national shares when it went public. Then it was acquired by Santander. I recently sold the Santander shares but don't know what the original share price was so I can calculate the gain for CGT purposes. Does anyone know what the share price was that I should use?  Thanks. 

Looks like the 100 free shares will be £zero and, to address the comments above, any additional shares subscribed for at the time of demutualisation were 130p.

My bold:

"When free shares are to be issued, as Section 217 TCGA 1992 treats the right to these as an option having no value, no chargeable gain arises on the disposal and indexation allowance is not due. When the free shares are issued, Section 217 treats the investor as acquiring these at nil cost. The normal Capital Gains Tax rules apply when the shares are disposed of. "

https://library.croneri.co.uk/cch_uk/btl/taxbull-it-taxbull-tb04-98-1

https://publications.parliament.uk/pa/cm199899/cmselect/cmtreasy/605/605ap08.htm#:~:text=15.,members%20of%20two%20years%20standing.

frankiesowner

FrugaiMacDugal said:

With 100 shares will you exceed the CGT allowance?

Yes as I've also sold other company shares that I hold so in total, for the tax year, will go over...

frankiesowner

DRS1 said:

glennevis said:

If you were given the shares the original purchase price for CGT purposes was £0.00.

I do recall there were some free shares - you may also have bought some in the initial offer but the safest figure to use is this one - NIL

Yes they were 'free'. Interesting, so the original price could be considered as zero?