CGT Loss and what do I need to declare to revenue in December this year.

MIDLANDSMAN

Hi. I have been searching this site and the revenue site to get an answer to my query but I haven't found a definitive answer yet. Hopefully, someone might be able to advise me here.

In 2024, I made a loss on the sale of shares and I declared this loss in my Form 11 tax return on ROS for 2024.

This year (2025) I sold shares from a company and made a profit. The losses from 2024 are greater than the gain in 2025 so if I carry forward the loss, I am assuming that I will need to pay no tax but I will still need to declare the gain when I do my tax return next year for 2025.

I am aware that if I made a profit, I have to pay the CGT tax due by December 15th and also declare it in the return next year for 2025.

As I made an overall loss , what am I required to do by December 15th this year? Do I pay tax on my 2025 gain and get a refund next year when I complete my 2025 returns and offset the gain against the loss for 2024?

Or do I simply do nothing and pay nothing this year as I have a net loss; and just declare the gain in my 2025 returns and carry forward the 2024 loss to use against the gain?

Thanks in advance

SureYWouldntYa

You don't do anything in Dec 2025 and all can be handled on your 2025 tax return (assuming no further sales in Dec 2025)

You will have losses forward at the start of 2025, a gain of a lesser amount in 2025 offset by the losses forward leaving you with a smaller amount of losses forward at the end of 2025