Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Are the costs of share advisory services allowable against Capital Gains Tax?

  • 29-12-2019 1:03am
    #1
    TomOnBoard
    Registered Users, Registered Users 2 Posts: 5,122 ✭✭✭


    I subscribe to a small number of share advisory services that cost me approx $200 a year. Are these costs allowable as expenses against CGT?


Comments

  • #2
    Calahonda52
    Registered Users, Registered Users 2 Posts: 12,888 ✭✭✭✭Calahonda52


    TomOnBoard wrote: »
    I subscribe to a small number of share advisory services that cost me approx $200 a year. Are these costs allowable as expenses against CGT?

    No, as they are not an expense incurred on acquisition or disposal of the assets

    “I can’t pay my staff or mortgage with instagram likes”.



  • #3
    TomOnBoard
    Registered Users, Registered Users 2 Posts: 5,122 ✭✭✭TomOnBoard


    Calahonda52 wrote: »
    No, as they are not an expense incurred on acquisition or disposal of the assets

    Ok. I get that perspective..

    However, in the absence of the knowledge provided by these subscription services, I would not have invested in the stocks which give rise to the capital gain. Accordingly, there is a clear associative cost involved.


  • #4
    davindub
    Registered Users, Registered Users 2 Posts: 1,447 ✭✭✭davindub


    TomOnBoard wrote: »
    Ok. I get that perspective..

    However, in the absence of the knowledge provided by these subscription services, I would not have invested in the stocks which give rise to the capital gain. Accordingly, there is a clear associative cost involved.

    Perodical subscriptions are specifically disallowed unfortunately.


  • #5
    Daxve
    Registered Users, Registered Users 2 Posts: 164 ✭✭Daxve


    https://www.revenue.ie/en/tax-professionals/tdm/income-tax-capital-gains-tax-corporation-tax/part-19/19-02-10.pdf

    http://www.irishstatutebook.ie/eli/1997/act/39/section/552/enacted/en/html


    See point 10.6

    10.6 Professional advisers

    Fees paid to a professional adviser are allowable only to the extent that they are directly referable to the cost of acquiring or disposing of each particular investment. To the extent that the fees are referable to advice about the general state of markets or the prospects of particular forms of investment or the management of a portfolio, they are not allowable.
    Amounts in respect of subscriptions for periodicals or for publications by analysts, stockbrokers or other professional advisers, whether for public or private circulation, or other similar types of expenditure, are not allowable.
    Accountants' fees are allowable only to the extent that they refer to the ascertainment of market value of the assets or to any apportionment for the purposes of the computation. Otherwise, fees for the computation of liability are not allowable. It follows that, in the case of quoted securities, allowable accountancy fees will usually be very small.


Advertisement