Old tab shares

dannyc08

hi all

my grandad sadly passed away recently and part of his estate that is being passed to my nan was 708 tsb shares. Now we know tsb was taken over by Lloyds but does that mean the shares automatically became Lloyds shares and are currently valued as per the current Lloyds share price?

Any help would be greatly appreciated

dannyc08

header should be tsb shares sorry

wmb194

https://forums.moneysavingexpert.com/discussion/6655262/old-tab-shares

So you've found an old certificate? Depending on how old they are they were either bought out for cash by Sabadell post Lloyds demerger or IIRC for some combination of cash and shares by Lloyds in 1995.

A common problem is that people keep defunct share certificates which they should have thrown away and then confuse their executors with them but from what a poster wrote in a previous thread they might still be valid: ultimately you can call Lloyds' share registrar to check.

See this thread:

https://forums.moneysavingexpert.com/discussion/6601901/tsb-share-selling

EthicsGradient

https://forums.moneysavingexpert.com/discussion/comment/81883545#Comment_81883545

I would say that people shouldn't "throw away" old certificates that have been superseded, since they ought to be kept for capital gains purposes (though not then needed on death, of course). Write on them "converted into X shares of y pence each" or something, perhaps with the new certificate number. When the valid shares are sold, and the capital gain has been worked out and taxed where appropriate, then they can be thrown out.

wmb194

https://forums.moneysavingexpert.com/discussion/comment/81883906#Comment_81883906

You don't need a certificate to calculate CGT - in the normal course of selling you would have sent it to the registrar or a broker - and you should have a contract note with the relevant data but takeovers and reorganisations leave this strange situation where defunct certificates are kept to sow confusion. If these are post Lloyds demerger shares in TSB then the gain would have been calculated in 2015/16.

I agree though that if they are kept you should definitely keep notes and then your executor can bin them for you…