CGT calculations

Clauric

Probably been done before, but not sure.

I am trying to work out the realised CGT for a multi-currency share portfolio. What I am wondering is how to calculate the gains/losses.

I would normally translate the purchase price of the non-Euro shares into Euro at the time of purchase, and then do the same at the time of sale. I am wondering is this correct.

However, it has been suggested that I should work out the gain/loss in the non-Euro currency, and then translate them into the Euro value at the time of the sale.

Any help would be useful.

dogsears

Clauric wrote: »

Probably been done before, but not sure.

I am trying to work out the realised CGT for a multi-currency share portfolio. What I am wondering is how to calculate the gains/losses.

I would normally translate the purchase price of the non-Euro shares into Euro at the time of purchase, and then do the same at the time of sale. I am wondering is this correct.

Yes.

However, it has been suggested that I should work out the gain/loss in the non-Euro currency, and then translate them into the Euro value at the time of the sale.

No.

Clauric

One more question.

Can I count the cost of placing the trades against the CGT? i.e. the commission paid on the trades - are they counted against CGT, or do I get to count them elsewhere?

Thanks

Clauric

Sorry, one further question.

I bought Eircom shares, that were later transferred to Vodafone, as well as reinvesting the dividend from both companies. I sold these during the year, and got a small (<2k) return for them. However, I lost the original documentation on the purchase costs and initial purchase/conversion rates. As such, how do I calculate the CGT for these shares, or can I simply put in a nil gain/loss?

dogsears

Clauric wrote: »

One more question.

Can I count the cost of placing the trades against the CGT? i.e. the commission paid on the trades - are they counted against CGT, or do I get to count them elsewhere?

Thanks

Yes commission is deductible for CGT.

Clauric wrote: »

Sorry, one further question.

I bought Eircom shares, that were later transferred to Vodafone, as well as reinvesting the dividend from both companies. I sold these during the year, and got a small (<2k) return for them. However, I lost the original documentation on the purchase costs and initial purchase/conversion rates. As such, how do I calculate the CGT for these shares, or can I simply put in a nil gain/loss?

Ideally you should have the documentation in order to be able to establish your entitlement to deduct the original cost etc. (I've seen Revenue challenge a case where documentation was not available, later settled on the basis of extrinsic evidence). As the relevant share prices are publicly available it should be possible to work out the gain correctly. I think you should declare that.

You may also be able to identify bank transactions in relation to the initial acquisition, or some other evidence (perhaps you included the acquisition on the tax return for that year?).