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Offsetting share price profit against share price loss?

  • 27-11-2012 7:54pm
    #1
    golfdiva
    Registered Users, Registered Users 2 Posts: 222 ✭✭


    Hi All

    I bought shares in AIB a while back and they are showing a massive loss.

    Three years ago I entered a scheme at work to buy shares. After this length of time they are 4k in profit so I will take the option to buy the shares.

    I know if I sell the work shares I will be liable for Capitol Gains Tax .

    What I was wondering if I sell off my AIB shares at the same time (which are well over 4K in loss) could I write one these off against the work shares so I won’t be liable to pay tax ?


    Thanks in advance :)


Comments

  • #2
    Cute Hoor
    Registered Users, Registered Users 2 Posts: 1,788 ✭✭✭Cute Hoor


    You are entitled to make €1,270 (double if married) profit every year before CGT kicks in. You are also allowed to carry losses forward from one year to another. So selling your work and AIB shares as described by you will not leave you liable for CGT.


  • #3
    golfdiva
    Registered Users, Registered Users 2 Posts: 222 ✭✭golfdiva


    Cute Hoor wrote: »
    You are entitled to make €1,270 (double if married) profit every year before CGT kicks in. You are also allowed to carry losses forward from one year to another. So selling your work and AIB shares as described by you will not leave you liable for CGT.

    Thats good news :)

    Does it work on a January - December yearly basis. Say if I sold the work shares in 2012 and did not sell the AIB till the start of 2013.

    Would this mean I would be liable for CGT in 2012?


  • #4
    Cute Hoor
    Registered Users, Registered Users 2 Posts: 1,788 ✭✭✭Cute Hoor


    Yea it's on a January to December basis, so selling your work shares only in 2012 would leave you liable for CGT on profit over €1,270


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