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Offset losses on shares against profits on funds?

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  • 12-02-2024 6:03pm
    #1
    Sconsey
    Registered Users Posts: 1,555 ✭✭✭


    As I type this I think I can guess the answer, but anyway....

    I am selling two managed funds which have accumulated a profit over the last number of years. I will be liable for 41% tax on the profits, as I understand it. Funds are managed by a financial services firm.

    I also have various shares sitting in a consumer trading account. One block of shares is a dead duck, significant loss which I doubt will ever recover. I was thinking this year would be a good time to sell and realize the loss so that I could offset against the profits from the funds.

    But I am guessing that the losses on shares can only be offset against profits on shares? or can you offset a loss on shares against profits in funds?

    Thanks



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    #2
    nompere
    Registered Users Posts: 1,675 ✭✭✭nompere


    You're correct - your losses on share disposals are not offsettable against your profits on funds.

    In part that's because your fund profits are actually liable to income tax, albeit at a special rate, whereas share disposal come within the CGT regime.

    What's less defensible is that losses on one fund are not allowble against profits on a different fund investment.



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