Selling Shares - Loss / Gains - Tax

D

Dman35

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Hi

I'm hoping someone can give me a guidance on the following. I looked into this via the Revenue site and couldn't really find what I was looking for..
I pay tax in dividends I receive each yr for shares that I hold via the Form 12 but tax on capital gains is totally new to me as haven't sold any shares previously.

Say I purchased 200 shares in Share A in 2008 for say 5.50 per share = 1100 Euro
The share price fell to .10 cent and in 2012 I brought 10,000 shares in same company = 1000 Euro
So was left with a holding of 11100 shares.

I sold all these shares in 2014 for 0.30 cent per share = 3300 Euro.
So I lost 5.20 on 200 shares = 1040 & Gain 0.20 for 10,000 shares = 2,000.
So real profit = 960 Euros.

I'm a PAYE worker on higher rate of tax so how this handled in my Tax return for 2014.
Can I write off the losses from 2008 purchase against the profits of 2012 purchase in 2014 return?
Is there an amount that is capital gains tax free in yr?
Which tax form do I need to declare all this on?
I assume this needs to be submitted prior to end of Oct 2015?

Any help much appreciated...
 
No tax payable.

The first €1,270 of gains are exempt and gains and losses in the same year are offsettable. Losses in prior years can also be carried forward and offset against gains made in future years. Losses can't be carried back though.

In this case you're making a loss on some shares and a gain on some others, all in the same year.
 
Tks Gordon for your reply..

I assume I still need to completed a Tax Return for it even though I will not have to pay any tax??
By any chance do you know which form you need to complete?

Tks
 
I have a similar question - I unfortunately bought AIB Anglo and BOI shares when they had dropped -50% in value. The shares are worthless now but still listed in a my nominee account with Davy.ie.

In the company I work for they offer a staff share purchase program in which shares can be purchased at a staff discount and if held for 3 years bonus share are added. There is an option to sell shares to cover the tax liability owing on the award of free shares so in 2014 I paid 3,123.90 tax.
If I submit a tax return can I get a refund of 1270 off the tax paid if I materialise the loses of one of the bank holdings in the davy nominee account?
thanks,

R
 
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