Do I need to declare ETFs to revenue before year 8?

S

SClarke

Registered User
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Hi all,

I've a question on what seems to be the ever confusing topic of tax of ETFS. I bought two ETF's in February of this year. VWCE and ZPRR - accumulating & domiciled in Ireland. I know the 8 year deemed disposal rule applies to these, but i'm wondering do I need to declare anything to revenue in an end of year tax return this year? My understanding was I didn't have to do anything until year 8, but just double checking.

Additionally, I've been reading a few posts around the new brief from Revenue on ETF's - should this be something to be concerned about if i'm planning a buy and hold strategy with my current ETF's? From what i'm reading, it seems to be more of a concern for those with US domiciled ETFs...

Thanks
 
You should report the purchase of the ETFs on your 2021 return when you file it next year
 
You are supposed to declare them to the Revenue but you won't get in trouble if you don't. Your platform provider will be reporting your purchases to the Revenue anyway. A tax advisor told me that the main purpose of the revenue wanting to know of the purchase is when you are declaring tax on the sale they can check what you said you bought them for at the time against at the point of sale.
 
Sorry to surface this one, but is there a simple online way to declare them to Revenue? As a PAYE public sector employee, I only have access to myAccount, and not ROS [which supposedly has Form 11]. Do I register for ROS, and then find Form 11 inside?
 
Before registering for ROS etc., I would try messaging Revenue via myAccount with details and asking them if there was an easier way than ROS/Form 11 to do this.
 
Steven Barrett said:
You are supposed to declare them to the Revenue but you won't get in trouble if you don't. Your platform provider will be reporting your purchases to the Revenue anyway. A tax advisor told me that the main purpose of the revenue wanting to know of the purchase is when you are declaring tax on the sale they can check what you said you bought them for at the time against at the point of sale.
Click to expand...
But as far as I can remember you don't specify how much you invested when you declare a purchase , just that you invested in a fund and the name of the fund provider, therefore they know when the 8 year anniversary is but nothing much else
 
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