Hi Barry, thank you for replying. I only inherited the shares in March this year. The portfolio was managed by PSG, so I am sure a lot of buying and selling has been happening over the years. I have no idea when shares were bought, but as I did not own them then, cannot understand why historical values should apply if I sell them within days of acquiring (inheriting) them, thereby creating a capital gain on paper. PSG seems to think the cost price should be the value of the shares on the day my mother died (almost a year ago). To me it makes more sense that the cost price should be the value on the day that they were transferred to my portfolio. Joan
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