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At what point am i liable to pay tax on shares owned/sold?

  • 10-01-2013 10:11pm
    #1
    BrokenArrows
    Registered Users, Registered Users 2 Posts: 7,516 ✭✭✭


    I have a trading account with Saxo.

    My account contains shares as well as cash. The cash is there due to me depositing cash and from profits due to trading.

    I am unclear whether i should pay tax on the profits when they are in the trading account or am i only liable once i move that money into my personal bank account?


Comments

  • #2
    Victor
    Registered Users, Registered Users 2 Posts: 78,644 ✭✭✭✭Victor


    BrokenArrows wrote: »
    I have a trading account with Saxo.

    My account contains shares as well as cash. The cash is there due to me depositing cash and from profits due to trading.

    I am unclear whether i should pay tax on the profits when they are in the trading account or am i only liable once i move that money into my personal bank account?

    As an individual, I imagine once you have made a profit, you are liable. If you were a business, it may be slightly more complicated.

    You will of course have to have made a profit, you can set-off comparable losses and there are some tax credits. Historical transactions may be entitled to indexation.


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