Deceased Process - Book cost updates

Following the death of an investor who jointly holds a GIA account, the deceased's share of the investment will automatically transfer to the remaining holder without realising a capital gain. Subsequently the book cost will need to be adjusted, to take into account the remaining investor's inherited share for CGT purposes.

The adviser firm is required to calculate the new book cost and provide via Freshdesk ticket to enable us to update.

A valuation statement as of today and as of date of death can be generated via the adviser portal to gather the information required.

The revised book cost should be 50% of the current book cost, plus 50% of the value as at the date of death. 

For Example:

If the book cost is currently £1 and the value is £1.50 as at date of death:

£1 x 50% = £0.50

£1.50 x 50% = £0.75

The new book cost = £1.25.