Patience

This is a repeat of a question I posted on 12/05/2023 which HMRC have still not answered. HMRC's original answer posted immediately below and my original question posted below that. What has changed from my original post. - I now have the opportunity to sell the Evraz shares that were transferred from my ISA to paper by HL and i want to know how to calculate the capital gains. To do this, i need an HMRC agree "fair value" price for the Evraz shares on the date they were withdrawn from the ISA. I hope after 20 months, you can now make a decision on this issue. I look forward to hearing from you. Posted 9 months ago by HMRC Admin 19 Hi, We have no direction regarding shares that have been suspended in this situation and we are unable to comment on the reasons for the suspension. The ISA manager should be contacting HMRC regarding the removal of the shares from the ISA. Thank you. MY original question This is a 2 part linked question: 1) Private investors holding shares in Evraz PLC (suspended on LSE 10th March 2022) have been given the option by some brokers to withdraw their share holdings from broker nominee accounts into paper shares. This action has been triggered by notification by Computerserve that they will no longer maintain the share register beyond 19th August 2022. Evraz plc will maintain the share register after this date. Putting aside the arguments to withdraw the Evraz shares from an ISA or to leave within an ISA, My question is, What price is assigned to the Evraz shares on the date they are withdrawn from the ISA? In my case, the shares were purchase in an ISA when the shares were not suspended and have been held in an ISA for the last 6 months, unable to be traded because the shares are suspended. I have been pointed towards the : Capital gains tax—adaptation of enactments 34.—(1) For the purposes of capital gains tax on the occasion when the title to account investments is transferred from an account manager to an account investor there shall be deemed to be a disposal and reacquisition by the account investor of those investments for a consideration equal to their market value at the date of the transfer. The above clearly states that the value assigned to the shares when they are transferred to the account investor is "equal to the market value at the date of the transfer" So far no one has been able to advise me what this price is, including my broker Hargreaves Lansdown. The suggestions have been: 1) The price you paid for them in your ISA -average 68p 2) The price they were when they were suspended 82p 3) The “ fair value” of the share - which is what? I have been surprised we have been allowed to remove these shares from our ISA accounts without knowing the exit value of the shares for future CGT calculations. I would have thought HMRC would have defined a price/rule and communicated this to brokers? 2) The second part of my question relates to SIPP’s. I also hold Evraz shares in a SIPP, I am over 55, and requested to my broker HL that I be allowed to conduct a “Connected Party Transfer” of these shares, converting them from the nominee account into paper shares. Either a withdrawal or I buy the shares from the SIPP. I have been told this is NOT possible. The reason it is not possible is that HL cannot establish a “fair value” price of the shares as they are suspended. A “fair value” is a prerequisite of conducting a “Connected Party Transfer”, so that any potential HMRC tax calculations can be performed. My question is: If HMRC/HL already have in place a price/rule has already been established for Evraz shares been withdrawn from ISA’s (for future CGT calculations) then why is this same rule/price not been used to allow “Connected Party Transfer” of shares from a SIPP to an investor? Summary I wish to purchase my shares from my Sipp, and I am being prevented from doing so as no “fair value” can be assigned to the Evraz shares, but a fair value must have been calculated by HMRC to allow investors to withdraw their shares from their ISA’s? The 19th of August 2022 is the deadline to advise computerserve of the Evraz shareholders names and I would like to remove my shares from my HL nominee SIPP account before then. Any advice is appreciated. Notes 1) Connected Party Transaction If any transaction is to be carried out between your SIPP and you or your connected parties, the transaction must take place at market value. Market value is the price an investment may reasonably be expected to fetch on the open market calculated in accordance with section 272 of the Taxation of Chargeable Gains Act 1992. A connected party is defined in Section 993 of the Income Tax Act 2007. 2) 272 Valuation: general. (1)In this Act “market value” in relation to any assets means the price which those assets might reasonably be expected to fetch on a sale in the open market. https://www.legislation.gov.uk/ukpga/1992/12/section/272#:~:text=272%20Valuation%3A%20general.&text=(1)In%20this%20Act%20%E2%80%9C,sale%20in%20the%20open%20market.