Westmount Energy: Charts & Fundamentals

I think someone asked about the tax implications regarding tax on the cash that is returned.

I've posted the following and hopefully someone will put us right as I have no idea(unless any of you have?). Worth a try as could buy a shed load and take a loss so I can sell off a few more oils this year. Could then buy the shares straight back in Mrs M's name to avoid the 30 day rule, can't see it but if you don't ask you don't get.



Can anyone answer the CGT implications for the following scenario?

Regarding Westmount Energy returning cash to shareholders, using the following figures which I've rounded up or down to simplify things. They are channel Islands based company and there is no stamp duty when buying if it makes any difference to things.

Buy 10,000 shares today at £1 each total outlay £10,000

At end of week, you will receive a "B" share worth 50p and I understand the default date for receiving the money is May 2006 although you can have the money end of January 2006 if you request it.

All things being equal, the shares should drop 50p when trading resumes next week.

Question

If you sell the shares before the new tax year in April 2006 at say 50p, would you be able to incur a CGT loss of £5000 for 2005/06 and once you receive the cash for the "B" shares in May 2006, would that be a straight £5,000 gain for 2006/07.