Capital Loss as oppossed to Gain

Digger01

Here is my problem,
I sold shares in Nov 2010, at a massive loss, I want to declare this loss
to the Tax office. When do I need to this by ,is it by Jan 31st 2011 ?
and what form do i need to fill out and what section do I fill in ?
I'm a PAYE in relation to Tax.Thanks in advance for any help.
I have tried the Tax website but not clear as to what to do.

gottcha_goin

As far as I know its a Form CG1 (you're dealing with Capital Gains Tax) you need to fill out and file by the 31st January. I've never filled one out before. Other posters may have more information.

BarMcc

The deadline of 31st January is to pay any CGT on disposals between 1st November and 31st December. As you have made a loss no payment is necessary.

The CGT return is the form CG1 and should be submitted before 31st October 2011. You should be able to download this from the Revenue website shortly (the 2010 version has not been uploaded yet).

CGT losses can be carried forward and offset against future CGT gains

Digger01

Thanks for both responses , what was confusing I couldn't find the form for this 2010 .

Just another quick question ,should I receive some acknowledgement or receipt back ,to say that they have received
my CG1 form. ???

BarMcc

Yes - Revenue should send you a Notice of Assessment

Digger01

Thanks for your help. Bar