Mystified by HBOS and Lloyds stuff and tax - HELP

You received some Lloyds shares in exchange for your HBOS shares. There is no tax liability at the moment, but when you come to sell your Lloyds shares, you will be taxed as if your HBOS shares had always been Lloyds shares, and the amount you paid for your HBOS shares (or Halifax shares or Bank of Scotland shares) is what you paid for the Lloyds shares they were converted to.

Many thanks for that. I guess it is much as I expected. but gives me more confidence to tell HMRC that I had nil gains or income from these shares. Fortunately almost all my other shares are in ISAs, do I don't have to worry about anything that happens to them as far as tax is concerned. ISAs are worth it for that alone, if for nothing else.

GPG