Another CGT question
Discussion
I bought some vodafone shares donkeys years ago - about 1997 I think. I gave these to my wife a couple of years ago as I was paying addition tax on the dividend and she wouldn't have to - it was a certificated holding and I filled in a stock transfer form and sent it off with the share certificate to computershare. Now we are coming to do her tax return for last year, I need to know the cost base for working out the CGT arising as a result of the vodafone / verizon transaction (if any). I honestly don't have a clue - i thought i purchased them through my bank but I've called them and they don't have any records. Ive called computershare and they weren't much use either. Any suggestions as to what i do next would be much appreciated! My worst case scenario is to declare the whole amount as gain but that clearly isn't correct, and she has other gains so she will have to pay CGT on that amount. Maybe that's just my penalty for poor record keeping (I've got better...)
williaa68 said:
i thought i purchased them through my bank but I've called them and they don't have any records.
O/T but this is a worrying thing. In the internet age of if 'it's a day old it's crap', things are being lost. I tried to find records from a bank dating back about 10 years and their view was 'We don't have any records, not interested'. No doubt when they changed from Windows 98 to XP, some geek lost the data. It's simply not acceptable.Registrars can produce the history in many cases but there is usually a charge involved for a query that goes way back. Try them again and explain your situation as you have done here. Sometimes you can be lucky and get through to a helpful person who might go the extra mile.
Alternatively, if you work out the date you purchased the original shares, you can find out the shareprice that applied at that time. Then you can discover the Verizon demerger ratios to apply to your bookcost in order to arrive at a fairly accurate figure that would suffice for your tax return.
From internet
The last traded price of Vodafone ordinary shares on 21 February 2014 was 235.95p and the first traded price on 24 February of these shares was 242.4p. The first traded price of Verizon shares on 24 February was 2775p.
Using the above prices and taking into consideration the consolidation, the approximate allocation of your original costs was 56% to your new Vodafone holding, 31% to your Verizon holding and 13% of the cost to the cash element.
Alternatively, if you work out the date you purchased the original shares, you can find out the shareprice that applied at that time. Then you can discover the Verizon demerger ratios to apply to your bookcost in order to arrive at a fairly accurate figure that would suffice for your tax return.
From internet
The last traded price of Vodafone ordinary shares on 21 February 2014 was 235.95p and the first traded price on 24 February of these shares was 242.4p. The first traded price of Verizon shares on 24 February was 2775p.
Using the above prices and taking into consideration the consolidation, the approximate allocation of your original costs was 56% to your new Vodafone holding, 31% to your Verizon holding and 13% of the cost to the cash element.
Registrars can produce the history in many cases but there is usually a charge involved for a query that goes way back. Try them again and explain your situation as you have done here. Sometimes you can be lucky and get through to a helpful person who might go the extra mile.
Alternatively, if you work out the date you purchased the original shares, you can find out the shareprice that applied at that time. Then you can discover the Verizon demerger ratios to apply to your bookcost in order to arrive at a fairly accurate figure that would suffice for your tax return.
From internet
The last traded price of Vodafone ordinary shares on 21 February 2014 was 235.95p and the first traded price on 24 February of these shares was 242.4p. The first traded price of Verizon shares on 24 February was 2775p.
Using the above prices and taking into consideration the consolidation, the approximate allocation of your original costs was 56% to your new Vodafone holding, 31% to your Verizon holding and 13% of the cost to the cash element.
Alternatively, if you work out the date you purchased the original shares, you can find out the shareprice that applied at that time. Then you can discover the Verizon demerger ratios to apply to your bookcost in order to arrive at a fairly accurate figure that would suffice for your tax return.
From internet
The last traded price of Vodafone ordinary shares on 21 February 2014 was 235.95p and the first traded price on 24 February of these shares was 242.4p. The first traded price of Verizon shares on 24 February was 2775p.
Using the above prices and taking into consideration the consolidation, the approximate allocation of your original costs was 56% to your new Vodafone holding, 31% to your Verizon holding and 13% of the cost to the cash element.
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