Allowable expenses when calculating capital gains

[Aggie]

Hi,
Calculating capital gains on share sale for the first time.

Wondering if I can reduce the liability- know about indexation of prices but wondering if I can deduct the commission or stamp duty- either on the sale or purchase transaction?
Thanks

 

[asdfg]

but wondering if I can deduct the commission or stamp duty- either on the sale or purchase transaction?

Yes you can.
You can also deduct the following:
annual fee the broker charges for holding the account
losses from other shares
the annual allowance of 1270 provided it has not been used to reduce liability selling other assets.

 

[Aggie]

Thanks for that!

 

[ClubMan]

And if the shares were purchased before 2003 (?) then indexation relief applies up to that date too.

 

[diarmuidc]

Yes you can.
You can also deduct the following:
losses from other shares
.

Is this true... if I sell one share at a loss and another at a gain in the space of a year I pay CGT only on the net gain?

 

[ClubMan]

Without going into the details - yes. Check the Revenue site for more detailed info on calculating CGT liabilities and offsetting previously incurred (any time - not just in the same year!) against subsequent gains. For example the previously incurred loss must be offset before the annual CGT allowance is applied. If in doubt get professional advice.