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Shares - Some Number Crunching for a neubie

  • 26-04-2014 11:29pm
    #1
    wicklow_hunter
    Registered Users, Registered Users 2 Posts: 156 ✭✭


    Hi All,

    Looking to invest in the stock Market. In the process of setting up an online Acc With Davy's.

    Tring to make sence of the cost of buying and selling....

    Ok so lets work through a working example. Lets say i buy 10,000 of shares @ 1euro each

    Lets say the share increases to €1.20.
    So that gives a €2000 gain

    So lets start dicing up de profit

    Online charges are as follows:
    1.25% commision = 125

    2000 - 125 Approx = 1875


    Subtract Government 1% stamp duty = 1875 - 100 = 1775

    Less 33% capital gains Tax 33% on 1775 = 580
    =1750-580= €1170 Net Profit

    The above is only approximate can anyone comment on the above

    Lets say i buy shares another 10,000 at 1€ per share.

    Share price drops by 10% and i cash in on my shares
    Loss on share price drop (-1000)
    Commision (-125)
    Stamp Duty (-100)

    Total Loss of €1225

    Assuming that both sets of shares are bought and sold in the one financial year

    Can the 1225 be offset against the 2000 gain on the first set of stocks?

    Is there a form that needs to be sent off to the revenue to get recognition that you lost money

    Or will davys look after this?

    Need to know the ins and outs before i make de plunge...


    Thanks in advance


Comments

  • #2
    strmin
    Registered Users, Registered Users 2 Posts: 315 ✭✭strmin


    You can offset losses against gains. And you can have €1270 worth of capital gains tax free. You need to submit Form 12 or Form 11. Check revenue.ie for deadlines.

    And btw, Davy most definitely will not look after you. I closed my account with them after couple of trades.


  • #3
    wicklow_hunter
    Registered Users, Registered Users 2 Posts: 156 ✭✭wicklow_hunter


    strmin wrote: »
    You can offset losses against gains. And you can have €1270 worth of capital gains tax free. You need to submit Form 12 or Form 11. Check revenue.ie for deadlines.

    And btw, Davy most definitely will not look after you. I closed my account with them after couple of trades.

    Is there a need for an accountant or is it a DIY job? Only plan to buy/sell shares 3-4 sets of shares per anum?

    Can anyone comment on my calculations?

    Are there any reputable stock brookers preferably irish that have lower commision and fees?


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