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TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15977
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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, i held some shares in an isa and the company in question

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i held some shares in an isa and the company in question moved to aim from a full listing on 27th august 2010 - at that time aim shares couldn't be held in an isa
i have subsequently sold some of the shares so i need to work out my allowable cost for cgt purposes
i have a letter from the stockbrokers confirming the transfer of the shares out of the isa and giving a mid market price but that letter is dated 13th september 2010
should i be using the price on 27th august 2010 (first day of dealings on aim) or the price given in the letter dated 13th september? - perhaps the latter as maybe there is a grace period for transfer out of ineligible stocks?
advice appreciated

You should use the date that you as opposed to the ISA account manager assumed control of the shares which, in your case, was 13 September 2010. See Regulation 34(1) of the Individual Savings Account Regulations SI 1998 No 1870 here for confirmation.

I hope this helps but let me know if you have any further questions.
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Customer: replied 3 years ago.

thanks for that

for the avoidance of doubt the stockbroker (barclays) was an ISA 'account manager' and had 'control' of the shares prior to transfer out of the ISA even though i could deal freely in the ISA?

The shares moved from the Barclays ISA account manager to you as the account investor so the value on the date that happened, 13 September 2010, is the date you use for CGT purposes.

Customer: replied 3 years ago.

thanks - very helpful