CGT when you have no idea of purchase price
Posted: March 28th, 2024, 5:22 pm
I have a holding in a fund that I have had, probably, since my 18th birthday. Since then it has changed name, management, structure, purpose etc numerous times. And when you're 18/19/20/21 you aren't always very good at keeping records of all these proceedings, and then you move house etc.
And so I have only hazy idea what it's cost was for CGT purposes. I am almost resigned to holding it until I die so that CGT is not an issue. Except that it's performed dismally in recent years, and pays no dividend at present, which might be nice. I have some ancient contract notes which I *think* refer to this fund, but of course it's a different name, and a different number of units (I think they underwent some sort of conversion at some point), so I'm not sure what's going on.
If I were to sell it, HMRC must have a way of assessing these things. Would it be a matter of getting in touch with HMRC and negotiating a reasonable figure based on the limited paperwork I have? Or maybe I'll just keep it sitting there.
And so I have only hazy idea what it's cost was for CGT purposes. I am almost resigned to holding it until I die so that CGT is not an issue. Except that it's performed dismally in recent years, and pays no dividend at present, which might be nice. I have some ancient contract notes which I *think* refer to this fund, but of course it's a different name, and a different number of units (I think they underwent some sort of conversion at some point), so I'm not sure what's going on.
If I were to sell it, HMRC must have a way of assessing these things. Would it be a matter of getting in touch with HMRC and negotiating a reasonable figure based on the limited paperwork I have? Or maybe I'll just keep it sitting there.