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Where Taxpayers and Advisers Meet

Capital Gains/loss calculations on Marks and Spencer shares

pdfx4
Posts:13
Joined:Wed Jun 28, 2017 1:46 pm
Capital Gains/loss calculations on Marks and Spencer shares

Postby pdfx4 » Tue Jun 12, 2018 9:54 am

Hi
Can anyone give me some guidance , please, about working out a capital gain (or loss) on Marks and Spencer shares about half of which were owned pre 31/3/82.
There has been a 1:1 scrip issue in 1984 and further dividends taken as scrip since that time.
On the Marks and Spencer website a value is given for the shares as at 31/3/82 of 153.5p which is adjusted to 76.75 when the scrip issue took place in 1984.
There was then a capital reorganisation in March 2002 when according to the M and S website "HMRC confirmed the base cost for CGT purposes was 372.35p for an ordinary share"
My questions are , please : -
1. How can I find out the value of an M and S share on individual dates (about 12 unfortunately) between 1989 and 1998 when scrip shares were taken instead of the cash dividend. I had hoped to find this information on the M and S website but it is not given anywhere. I have also searched the web for any other source of this information but cannot find it.
2.I had understood that the 1982 value was the important figure in order to work out a capital gain or loss. However, did the capital reorganisation in 2002 " rebase" the acquisition cost ? Therefore this is the figure to use when calculating the gain/loss ? Otherwise what was the point of the base cost of 372.35p agreed in 2002 with HMRC ?
3.Any other pointers in trying to work out the gain/loss correctly !
Many thanks in advance for any assistance.

pawncob
Posts:5099
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Capital Gains/loss calculations on Marks and Spencer shares

Postby pawncob » Tue Jun 12, 2018 11:54 am

I can't find any dividend history prior to 2000, so unless you've kept the div vouchers, you're stymied.
This shows part of the period: https://www.sharesmagazine.co.uk/shares/share/MKS/historic-prices
Spot prices were:
17/06/89 £2.48
07/01/90 £2.60
04/08/90 £2.95
28/03/95 £4.14
Hope this helps
With a pinch of salt take what I say, but don't exceed your RDA

pdfx4
Posts:13
Joined:Wed Jun 28, 2017 1:46 pm

Re: Capital Gains/loss calculations on Marks and Spencer shares

Postby pdfx4 » Tue Jun 12, 2018 11:59 am

Pawncob, thanks very much for the reply.
Yes, that is the problem, I dont have the div vouchers before 1989 ! But presumably HMRC gets the information from somewhere to check a taxpayers calculations. I wonder what HMRC do ?
Thanks anyway.

pdfx4
Posts:13
Joined:Wed Jun 28, 2017 1:46 pm

Re: Capital Gains/loss calculations on Marks and Spencer shares

Postby pdfx4 » Tue Jun 12, 2018 12:01 pm

Sorry, in my last post I mean 1998 not 1989 i.e. no div vouchers before 1998.

pawncob
Posts:5099
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Capital Gains/loss calculations on Marks and Spencer shares

Postby pawncob » Tue Jun 12, 2018 12:02 pm

I don't think HMRC ever bother to check CGT comps on shares- far too complicated and time consuming.
With a pinch of salt take what I say, but don't exceed your RDA

greybags1
Posts:47
Joined:Tue Jan 31, 2017 10:41 am
Location:NE Scotland

Re: Capital Gains/loss calculations on Marks and Spencer shares

Postby greybags1 » Tue Jun 12, 2018 1:24 pm

Try https://www.sharedata.co.uk/index.php/share-valuation-services/capital-gains-tax/

pdfx4
Posts:13
Joined:Wed Jun 28, 2017 1:46 pm

Re: Capital Gains/loss calculations on Marks and Spencer shares

Postby pdfx4 » Tue Jun 12, 2018 3:47 pm

Greybags1 thanks very much for the reply. I will try this and see where I get to !
Can anyone help with the point 2 and the "rebasing" of the share price/value please ?
Thanks very much.


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