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Vat on shares?

  • 13-08-2009 4:39pm
    #1
    Buffy the bitch
    Closed Accounts Posts: 169 ✭✭


    Just wondering I've some shares and I'm gonna cash in, thing is I didn't make any money, I was told I wouldn't have to pay VAT is that true?


    Thanks...


Comments

  • #2
    EL_Loco
    Registered Users, Registered Users 2 Posts: 901 ✭✭✭EL_Loco


    I think you mean capital gains tax.

    you only get taxed that on the profit you make so if there's no profit to tax then you'll be ok.

    That's my understanding of it anyway. I await correction :)


  • #3
    homer911
    Registered Users, Registered Users 2 Posts: 5,150 ✭✭✭homer911


    & Losses can be carried forward against future gains..


  • #4
    vincenzo1
    Closed Accounts Posts: 28 ✭vincenzo1


    homer911 wrote: »
    & Losses can be carried forward against future gains..

    is that so. that is interesting. For how long can they be carried forward?


  • #5
    Time Magazine
    Registered Users, Registered Users 2 Posts: 8,452 ✭✭✭Time Magazine


    Moved from I&M.


  • #6
    Beasty
    Administrators, Social & Fun Moderators, Sports Moderators Posts: 78,393 Admin ✭✭✭✭✭Beasty


    vincenzo1 wrote: »
    is that so. that is interesting. For how long can they be carried forward?
    Indefinitely


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  • #7
    Beasty
    Administrators, Social & Fun Moderators, Sports Moderators Posts: 78,393 Admin ✭✭✭✭✭Beasty


    EL_Loco wrote: »
    I think you mean capital gains tax.

    you only get taxed that on the profit you make so if there's no profit to tax then you'll be ok.

    That's my understanding of it anyway. I await correction :)
    Correct. You also get an annual exemption, making the first €1,270 of gains tax free in any tax year.


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