Hi there. I wonder if anyone can help me. My Dad's father, i.e. my grandfather, has recently died. Although he left everything to his wife, she has agreed to vary his will and pass certain cash and shares directly to his/their three children. In turn, one of the children, my Dad, would like to directly pass on his share of the cash/shares to my sister and myself.
My questions are:
1) Does the transfer of the shares to my father constitute a chargeable event for CGTpurposes? I think not...?
2) Does the transfer of the shares from my father to my sister and I constitute a chargeable event for CGTpurposes. If this was the case what is the base cost of the shares for the purposes of the calculation; is it the price my grandfather paid for the shares (likely quite low as an awfully long time ago)?
Many thanks for your help - it's greatly appreciated.
Judy
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