First milk shares

[buffalo_soldier]

Well the taxman will want his capital gains tax when you sell. My understanding is that they had some sort of value, but nobody seems to know what it was. The fact that you could not sell them doesn't mean they had no value. Its possible an agreement was struck with HMRC, but it doesn't seem to be online.

My understanding is that there will be a loss when I sell them. It's the main reason I'm hanging on to them.
Unless they get over a pound that is.

 

[farmer cen]

My understanding is that there will be a loss when I sell them. It's the main reason I'm hanging on to them.
Unless they get over a pound that is.

Same here ,

 

[O'Reilly]

Well the taxman will want his capital gains tax when you sell. My understanding is that they had some sort of value, but nobody seems to know what it was. The fact that you could not sell them doesn't mean they had no value. Its possible an agreement was struck with HMRC, but it doesn't seem to be online.

You paid a pound for them, you might sell them for 30p. Where is the capital gain?

 

[AnotherOldGit]

Unfortunately its not as simple as that, it seems. We traded in £1 of shares for one preference but apparently that does not, indeed almost certainly does not, mean that was their starting value since you could not sell them for £1. See https://www.doddaccountants.co.uk/blog/first-milk-restructuring-tax-implications/ which is the only reference I can find. FM evasively state "The face value of each of C Preference Share at the time of conversion from other capital in 2016/issue since is £1. " which is true, but not an answer.

 

[O'Reilly]

37p this month, for the shares, that is.

 

[vantage]

37p this month, for the shares, that is.

People falling over in the rush to buy?

 

[I thats it]

People falling over in the rush to buy?

yes

 

[O'Reilly]

Was quiet for most of the auction, then in the last hour or so, three people who wanted in excess of 300k shares jumped in and had the lot, leaving the poor chaps wanting 5k shares at 20p without. I was happy, but of course now wondering if I was too quick to sell. Still, all done now, can go towards the cowshed/slurry store fund.