Halifax Building Society demutualised in June 1997 to become Halifax Group plc. CG56820 suggests that the free shares may have nil base cost but Lloyds Banking Group website states that "For Capital Gains Tax purposes the original price for Halifax Group plc shares is 734.5 pence on 2 June 1997" suggesting that the shares did have a base cost. Has anyone looked into this for a client and determined the answer?
18th Dec 2020
Halifax Group plc - base cost of shares
Do the free shares acquired on demutualisation have any base cost?
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