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Best way to sell variety of shares

  • 31-08-2011 10:31pm
    #1
    Registered Users, Registered Users 2 Posts: 817 ✭✭✭


    Hi all I'm looking to sell my shares in order to build up a cash lump sum for a house deposit.

    I've about 20k dollar worth of pharmaceuitcal shared from a place I worked for years. with different maturity dates and 3 year tax free deposit schemes etc.

    Some Irish shares which I have in the main lost a huge % of value on. (is there any scheme to claim loss back?).

    And maybe a few bits and pieces.

    I've been travelling this year and haven't worked yet. Is there a means to sell and claim the CGT back?

    Any advice or direction would be welcome.

    Thanks,


Comments

  • Registered Users, Registered Users 2 Posts: 5,081 ✭✭✭fricatus


    Jesper wrote: »
    I've about 20k dollar worth of pharmaceuitcal shared from a place I worked for years. with different maturity dates and 3 year tax free deposit schemes etc.

    You can certainly sell the shares that have gone through the three years and have been issued to you. They should be in a nominee account (e.g. Goodbody's or some such) and you can sell them on demand.

    You can also sell any that are still under trust (i.e. that are still within the three years), but I believe the rule is that you have to pay income tax on the original income. You'd have to contact the trustees and/or Revenue for details.

    Jesper wrote: »
    Some Irish shares which I have in the main lost a huge % of value on. (is there any scheme to claim loss back?).

    No! That's capitalism! :D

    Although if you make profits on one share and losses on another, you can offset the losses against the profits, and only pay CGT on the net profit. That's why investors will often sell at a loss on an underperforming share when they want to take profits on one that has done well.

    Jesper wrote: »
    I've been travelling this year and haven't worked yet. Is there a means to sell and claim the CGT back?

    You only pay CGT if you make a capital gain that's higher than your personal threshold for the tax year (AFAIK 2-3 grand; check with Revenue). There are also various adjustments for inflation (index linking) if you've held onto the shares for more than one year.

    AFAIK, CGT is also independent of income tax, so even if you've been travelling, you're liable for it if your profit is sufficient.


  • Registered Users, Registered Users 2 Posts: 817 ✭✭✭Jesper


    fricatus wrote: »
    You can certainly sell the shares that have gone through the three years and have been issued to you. They should be in a nominee account (e.g. Goodbody's or some such) and you can sell them on demand.

    You can also sell any that are still under trust (i.e. that are still within the three years), but I believe the rule is that you have to pay income tax on the original income. You'd have to contact the trustees and/or Revenue for details.




    No! That's capitalism! :D

    Although if you make profits on one share and losses on another, you can offset the losses against the profits, and only pay CGT on the net profit. That's why investors will often sell at a loss on an underperforming share when they want to take profits on one that has done well.




    You only pay CGT if you make a capital gain that's higher than your personal threshold for the tax year (AFAIK 2-3 grand; check with Revenue). There are also various adjustments for inflation (index linking) if you've held onto the shares for more than one year.

    AFAIK, CGT is also independent of income tax, so even if you've been travelling, you're liable for it if your profit is sufficient.



    Some excellent advice and great beginning point for me thanks


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