Kerry Shares.

ciaeim · 15-05-2019 9:49am #1

Hi all.
Looking for some advice if possible! I have 500 Kerry co-op shares and need to sell them urgently. My questions are how/where do i go about this ? How much should I get for them? And how much tax would i be paying out ? Sorry if these questions are not very smart but I have no idea how to go about this. By the way they are plc shares that were left to me by my dad don’t want to sell but needs must ! Appreciate any feedback thanks.

LariToper · 15-05-2019 12:04pm

https://www.irishtimes.com/business/personal-finance/working-out-capital-gain-on-inherited-shares-1.2164375

Open to correction here, but looks like your Capital Gains Tax is calculated on the value change from when you inherited the shares to the current price. You'll have to find that out the price you inherited the shares at some way, then it'll be 33% CGT on whatever gain was made over all that time (except for the first €1270 of gains). If you don't require the full amount immediately and want to minimise the tax bill, you could divide the selling up over the next few years to use up your €1270 yearly gain allowance.

Unfortunately I can't offer any advice on how to sell your shares, presumably you'll have to contact a broker that can sell them for you

ciaeim · 15-05-2019 1:36pm

LariToper wrote: »

https://www.irishtimes.com/business/personal-finance/working-out-capital-gain-on-inherited-shares-1.2164375

Open to correction here, but looks like your Capital Gains Tax is calculated on the value change from when you inherited the shares to the current price. You'll have to find that out the price you inherited the shares at some way, then it'll be 33% CGT on whatever gain was made over all that time (except for the first €1270 of gains). If you don't require the full amount immediately and want to minimise the tax bill, you could divide the selling up over the next few years to use up your €1270 yearly gain allowance.

Unfortunately I can't offer any advice on how to sell your shares, presumably you'll have to contact a broker that can sell them for you

Thanks very much for replying!

JeffKenna · 15-05-2019 1:53pm

LariToper wrote: »

https://www.irishtimes.com/business/personal-finance/working-out-capital-gain-on-inherited-shares-1.2164375

Open to correction here, but looks like your Capital Gains Tax is calculated on the value change from when you inherited the shares to the current price. You'll have to find that out the price you inherited the shares at some way, then it'll be 33% CGT on whatever gain was made over all that time (except for the first €1270 of gains). If you don't require the full amount immediately and want to minimise the tax bill, you could divide the selling up over the next few years to use up your €1270 yearly gain allowance.

Unfortunately I can't offer any advice on how to sell your shares, presumably you'll have to contact a broker that can sell them for you

Hate to contradict such an informative post but I thought a big issue with these shares at the moment is that revenue are after deciding they should be based on income tax and not capital gains? This is due to the fact they were received initially based in milk sales so should be taxed as such (income).

JeffKenna · 15-05-2019 1:55pm

Just an additional point, there's an excellent thread over in the farming forum that discusses current issues with Kerry Co-op.. Have a look there maybe?

Mr. Incognito · 15-05-2019 1:58pm

Hi there.

You will need a decent tax advisor to assist you. Theres a taxation forum but the co sec function for Kerry group is in Tralee. You could get in touch with them.

JeffKenna · 15-05-2019 2:01pm

Also...i think the co-op share is valued at roughly 600 euro on the gray market so you're talking about a 300,000 asset you have. Get professional advise.

Are you sure there co-op or PLC shares? Big difference.

LariToper · 15-05-2019 2:11pm

JeffKenna wrote: »

Hate to contradict such an informative post but I thought a big issue with these shares at the moment is that revenue are after deciding they should be based on income tax and not capital gains? This is due to the fact they were received initially based in milk sales so should be taxed as such (income).

Apologies, I have no knowledge of the Kerry share situation and had assumed they would have the same tax treatment as most other shares, it seems not.

JeffKenna · 15-05-2019 2:14pm

LariToper wrote: »

JeffKenna wrote: »

Hate to contradict such an informative post but I thought a big issue with these shares at the moment is that revenue are after deciding they should be based on income tax and not capital gains? This is due to the fact they were received initially based in milk sales so should be taxed as such (income).

Apologies, I have no knowledge of the Kerry share situation and had assumed they would have the same tax treatment as most other shares, it seems not.

Well I'm talking about the Kerry Co-op shares that are traded on the grey market. If there PLC shares then you're 100% correct and I'd recommend the OP follows your post as opposed to wasting money on a tax adviser.

ciaeim · 15-05-2019 5:11pm

JeffKenna wrote: »

Also...i think the co-op share is valued at roughly 600 euro on the gray market so you're talking about a 300,000 asset you have. Get professional advise.

Are you sure there co-op or PLC shares? Big difference.

Thanks. Their plc shares

Kerry Shares.

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