cgt position when takeovers are for cash and shares and one held shares in both companies
Posted: January 17th, 2017, 4:56 pm
I held 539 shares in BG which cost me £7,146.99 and 492 shares in RDSB which had cost me £9,605.80. At the takeover last February, I received £2,064.37 cash and 240 RDSB shares. As I understand HMRC's guidance notes on this subject, I don't have to declare anything in my 2015-16 tax return because the cash payment is less than £3000 and I don't need to work out whether the cash was "less than 5% of the value of your shares in the company valued just before the takeover" (presumably BG rather than RDSB) and when I dispose of the RDSB shares the cost I will have to put down will be the acquisition cost of my BG shares plus that of my original RDSB shares minus the cash received at the t/o. I ask this because I-web have the book cost down as £16,751 so they have amalgamated the 2 costs but not deducted the cash proceeds. Am I right or not, and whose job is it to get this right on on-line brokers valuations?
Apart from finishing my tax return, I am trying to get all the portfolio histories on my computer up to date and correct so that when I pop my clogs, my sprogs won't find themselves in the mess I'm in now; I have several large cardboard boxes full of papers which have been dumped in them when my husband was ill and there was no time to do anything with them.
I may be back!
Apart from finishing my tax return, I am trying to get all the portfolio histories on my computer up to date and correct so that when I pop my clogs, my sprogs won't find themselves in the mess I'm in now; I have several large cardboard boxes full of papers which have been dumped in them when my husband was ill and there was no time to do anything with them.
I may be back!