Mystified by HBOS and Lloyds stuff and tax - HELP

Last financial year is the time in question.

So, I had some HBOS shares and some Lloyds TSB ones. They kept offering Rights (Nil paid ones), and a (Scheme of arrangement). I did nothing (they were held in a nominee account). Now I have more LBG shares and, of course, no HBOS shares, and have lost a small fortune.

Question is, do I owe the tax man anything? I have no idea, though I might have thought not.

Any suggestions gratefully received - trying to complete my 08/09 tax form. It is all a mystery to me.

GPG

Reply to
GPG
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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.

Reply to
Jonathan Bryce

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

Reply to
GPG

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