The Guardian (UK): We don't like ... ... no rollover relief: “Potential problems loom for savers who have stashed share certificates in oil giant Shell under their bed, in a safe deposit box or electronic nominee account.” (ShellNews.net) 28 May 05
Saturday May 28, 2005
Potential problems loom for savers who have stashed share certificates in oil giant Shell under their bed, in a safe deposit box or electronic nominee account.
Anyone investing in the the Netherlands-quoted Royal Dutch arm of Shell will be faced with significant CGT liabilities. It follows the merger of UK-based Shell Transport & Trading and Royal Dutch to create Royal Dutch Shell plc, says stockbroker Charles Stanley.
Royal Dutch shareholders get 60% while Shell Transport owners get 40%.
The stockbroker warns: "Although there is no tax payable by the vast majority of shareholders, the offer for Royal Dutch does not qualify for UK rollover relief."
The merger is due to take effect in July.
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