Share sale queries

Discussion in 'Tax' started by Eddie Peters, Mar 20, 2017 at 12:27 PM.

  1. Eddie Peters

    Eddie Peters Frequent Poster

    Last edited: Mar 20, 2017 at 12:33 PM
    I need to sell shares that were purchased over the years but I have a few questions...
    I have records of the number and cost of shares and the exchange rates over the years. There was a 'sale and repurchase' scheme that utilised tax free exemptions but ended in 1997. I realise that I will need to get an accountant to calculate the CGT due. However for a rough estimate I'm a bit confused between the purchase price, exchange rate, indexation, punt/euro rates, sale and repurchase scheme, tax free allowances, share-split dealing etc. and I would appreciate constructive input on how to do the sums:)
    Thanks in advance.
    Last edited: Mar 20, 2017 at 12:33 PM
  2. dub_nerd

    dub_nerd Frequent Poster

    Hard to answer without specific questions. First of all, try to simplify. At the end of the day you are just trying to subtract acquisition price from disposal price for each purchase, to calculate gains. Did you maintain a foreign currency account with deposits/withdrawals independent of the share purchases? If so, you may have to calculate gains on currency separate to shares. If not, then the FX rates are irrelevant. Just use the euro/punt costs of buying shares (assuming you have these to hand) in calculating your gains. Punt to Euro exchange rate is easy -- it's fixed for all time at 1.26974. Tax free allowance is easy -- for shares you are selling this year you have a fixed allowance of €1,270. Indexation (prior to 2003) is a pain, but you just have to look it up from a table. Splits are easy as well: they are covered in Revenue's guides on CGT which you can Google, but basically they change the number but not value of the holding for further calculations. 'Sale and repurchase' I have no clue about.