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Selling shares at a loss and bullionvault..

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  • 04-11-2011 12:03pm
    #1
    paidi09
    Registered Users Posts: 48 ✭


    Forgive my ignorance but I'm just wondering how to approach this. I'm currently living on the other side of the world and a little out of touch with the irish financial system.

    I have some shares held through td waterhouse.ie. Like many I'm sitting on a bit of a loss with some of them and dont see them improving any time soon. I havent sold shares before so when you sell a share at a loss is it possible to offset your loss one one share against profit on another?

    I have some exposure to gold through bullionvault. Does anyone know what the situation with capital gains on this were I to cash some in? Presumably I pay UK rates?

    Also I remember a few yrs back that the first 1750 euro or something like that in capital gains each year was tax free. Is that still the case?

    Appreciate any help!


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    #2
    gforce_24
    Registered Users Posts: 8 ✭gforce_24


    I have some shares held through td waterhouse.ie. Like many I'm sitting on a bit of a loss with some of them and dont see them improving any time soon. I havent sold shares before so when you sell a share at a loss is it possible to offset your loss one one share against profit on another?
    Yes. When submitting your return to the Revenue Commissioners write up a quick document showing how much you bought each shareholding for, how much you sold them for and what the profit or loss was. Then just do a sum up for your profit's and losses to show if you're in the black or the red.


    I have some exposure to gold through bullionvault. Does anyone know what the situation with capital gains on this were I to cash some in? Presumably I pay UK rates?
    Sorry, no experience with this one.


    Also I remember a few yrs back that the first 1750 euro or something like that in capital gains each year was tax free. Is that still the case?
    The Personal Excemption on capital gains tax is 1270 euro. So when you've calculated any gains you have on your investment, you subtract this Personal Excemption from it, and that gives you your Chargeable Gain. Get 25% of the Chargeable Gain, and that's your CGT liability.


    More information on CGT can be found on the Revenue Commissioners website, and more specifically in their Guide to Capital Gains Tax webpages / PDF document. (It's not 100% comprehensive, but gives a good overview of the basics.)


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