belgiumqq

Hi, The shares were bought by my parents long time ago. They are Hong Kong residents. Some paper records from the broker where they bought the shares had been lost, not to mention that they may have forgotten the date when they bought them. As I understand from the HMRC reply to this post https://community.hmrc.gov.uk/customerforums/cgt/e39be049-a20f-ef11-a81c-000d3a0cf263#b88b7b46-a20f-ef11-9f89-0022483f08db , quoted "If (the shares were) gifted from someone other than your spouse/civil partner, it (price of obtaining the shares) will be the value at date of transfer". Could I use the value at the date of transfer in 2017 as the acquisition price when I calculate the capital gain/loss? Thanks!

Thanks. With regards to the gain/loss calculation, which price should be the acquisition price? On the date when the shares were gifted (before I becoming a tax resident) or on the date of the start of the financial year when I become a tax resident? Some of the shares are issued by non-UK territories. How would the exchange rate be determined when calculating the gain/loss? Calculate the gain/loss (in foreign currencies) then have the result converted into GBP, or have the sold price (in GBP) minus the acquisition price (in GBP)?

If my parents send company shares to me as a gift before I become a UK resident, and after I become a tax resident, I plan to sell it. Will the sales proceeds be subject to capital gains taxes?