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I purchased British Gas shares which became BG shares and

Resolved Question:

I purchased British Gas shares which became BG shares and now Shell shares.What base cost do I use for BG shares to calculate capital gains tax for the cash amount.
Submitted: 9 months ago.
Category: Tax
Expert:  Sam replied 9 months ago.

Hi

Thanks for your question - I am Sam and I am one of the UK tax experts here on Just Answer.

At the time of each conversion it depends which option you took as to whether you use the original purcahse price - ir the newer price.

Can you advsie further -

Thanks

Sam

Customer: replied 9 months ago.
I'm afraid I can't remember the details,I took what was offered in shares at each conversion,no cash.Chris
Expert:  Sam replied 9 months ago.

Hi Chris

Then as you had no payment made at each conversion - then you will use the original share price as the acquisition price which is deducted from the sale price to create the gain - and of course the first £11,100 is tax free - and any remaining gain liable to either 18% or 28% or a mix of both (depending on your annual income and what unused basic rate band applies

Thanks

Sam

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