How to calculate CGT on AIB shares.

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patfert1

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Does anyone know how to go about estimating the capital loss when you have no record or memory of when and how much were paid for the shares in the first place? In my case (I'm referring to AIB buyback) they were purchased long before computershare, and any paper records or notes are long gone. I doubt I'm the only one in this position.
 
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Do you have the original share certificates?

When you bought the shares, you would have been sent share certs.
They have since been replaced by new share certs when AIB consolidated your shareholding a few years ago.

But the original certs should have a date.

Do you have your old bank accounts where you can see the dividends being lodged?

Have you asked Computershare? They should have the old register.

If you have no idea at all, then take a date 20 years ago and use that. Tell Revenue what you are doing and they will probably be ok with it.

Brendan
 
When trying to estimate the original purchase price on my AIB holding, I found some historical price graphs online. Unf. I'm not allowed to post the links here.
Considering the high price of the stock shown in these graphs pre-crash (5625EUR at end 2006), I suspect the historical numbers are based on 1 share as of today, not the pre-2015/17 share value.
I found an IT article from 2015 "How much are my AIB shares worth now" about the revision of the stock, stating it was a 250-for-1 restructuring.
So, if I'm getting this straight, when the price graphs show a peak price of 5625EUR at end of 2006, for example, then factoring with the 250-for-1 restructuring, that would mean the market price-per-original-share as of end of 2006 then was 5625/250=22Eur. Can anyone tell me if I'm calculating this correctly?
 
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Here is the share price graph

1726216326393.png


The shares lost 99% of their value. So your loss is almost the price you paid for them.
 

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The CGT calculation will be something like the following if you had bought 250 shares originally and now have just one share


Sale proceeds of one share €5.65
Cost 250 shares @ €2 = €500
Loss for CGT purposes: €494.35

Brendan
 
The share history of every quoted company should be a matter of public record if you look hard enough. That all presupposes you know the actual or approx dates of acquisition.

I'd mine the online archives of one of the major newspapers using a temporary subscription if necessary.
 
Brendan Burgess said:
Do you have the original share certificates?

When you bought the shares, you would have been sent share certs.
They have since been replaced by new share certs when AIB consolidated your shareholding a few years ago.

But the original certs should have a date.

Do you have your old bank accounts where you can see the dividends being lodged?

Have you asked Computershare? They should have the old register.

If you have no idea at all, then take a date 20 years ago and use that. Tell Revenue what you are doing and they will probably be ok with it.

Brendan
Click to expand...
Thanks for the advice (and starting new thread).
I don't have the original shares, and I doubt I'm alone with that. I kept them for a number of years after the restructuring but having received a new cert, the original cert eventually seemed pointless. Well, now I know better. That's why I tell the wife never throw anything out (joke).
I registered/logged into Computershare and the earliest record they show is the addition of my 3 shares after the restructuring. Agree, it's worth asking them directly.
And also agree, in worst case one can pick a date and using the 250-1 split as reference then it's easy to work out in my case I had around 700-750 shares originally. Maybe I'll find some record to collaborate that.
 
Just to close this off for anyone else's future reference.
I found an old note that I had 690 shares pre-restructuring, which matches to receiving 3 shares after the restructuring. See quote below from my enquiry to Computershare which confirms the 250-1 split.
Also, they were able to tell me the date my original holding appeared on the share register (in 1998) so I could get an exact price on that date from https: //tradingeconomics.com/aibg:id ... keeping in mind that price is in Euro and based on the shares post-restructure, so 250 times more than it actually was back in 1998.
Therefore I can work out my original purchase price in Euro terms on that date in 1998, multiplied by 690 shares.
Minus the sale back to AIB in October: 3 x 5.65 EUR
Which comes to a fairly hefty capital loss.

Computershare also said that if I wanted them to delve deeper into their records it can be done but I have to pay a sizeable hourly-cost up-front.

From email I received:
-----
AIB Group plc - Proposed Capital Reorganisation and Notice of EGM - 23 Nov 2015

Terms of Action:
Proposed 1 for 250 consolidation of existing ordinary shares.

The ordinary share consolidation was structured so that it would not result in the removal of any shareholder from the register of members of AIB. All shareholders on the register of members of AIB as at the ordinary share consolidation record time received one new ordinary share for every 250 existing ordinary shares held, and following the rounding up exercise one new ordinary share for any fractional holding of less than 250 existing ordinary shares.
 
As a curious footnote, on the replacement share cert issued by AIB in 2017 after the restructuring, the recipient is clearly instructed to destroy the previous (original) share certificates. This is ironic since technically the original could be now needed (if no other original purchase records are available) to prove evidence of the original purchase and hence capital loss.
 
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