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I am a Trustee for a Discretionary Trust set up in 1987. I

Customer Question

I am a Trustee for a Discretionary Trust set up in 1987. I am looking to dispose of the holdigs, split across 12 companies but in the majority of cases I do not know when the shares were originally bought and so also the price. In this case how do i calculate any capital gains liability?
Submitted: 2 years ago.
Category: Tax
Expert:  bigduckontax replied 2 years ago.
Hello, I'm Keith and happy to help you with your question.

Presumably these are certificated shares in which case the share certificate may indicate the date of purchase. Historic data for share prices is available from the ICEAW who hold microfilm records of share prices going back to 1975. Try contacting the Institute on 'library at iceaw dot com.' [have to put it in longhand as otherwise JA will scramble the address]. Telephone contact is 0207(NNN) NNN-NNNN
Customer: replied 2 years ago.

Keith,


Thank you for your suggestion. I am aware that most of the share certifictes that i hold have been issued following an initial sale before they came to me.


 


For those cases would it make sense to phone / write to the the Registras to see if they hold on file when an original share certificate was issued and an indication of the price? From your experience would they hold that information? Garry

Expert:  bigduckontax replied 2 years ago.
Yes, Garry, you can contact Registrars or Company Secretaries. You will be in for some labourious letter writing. Some Registrars may charge a fee for these enquiries. Many big companies use large firms to maintain these registers.

The Company Secretary would have the detail you need from the share register. However there can be a charge for providing this data.
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Category: Tax
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Expert:  bigduckontax replied 2 years ago.
Thank you for your support.

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