CGT and offsetting losses from 2008/9

I have receipts from stockbroker and share certs from a couple of companies that died around 2008/9.
Currently want to sell some shares that have been good to me.
Never claimed or logged losses with revenue. Can I offset the losses now?

In theory, you are supposed to claim the loss in the tax year that the company died.

However, I think that Revenue will allow the losses by concession.

Brendan

Brendan Burgess said:

In theory, you are supposed to claim the loss in the tax year that the company died.

However, I think that Revenue will allow the losses by concession.

Brendan

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Hi Brendan

That's not the case. There is no concession that needs to be applied for.

The OP should review their asset disposals history carefully as any gains realised in the meantime, even if insufficient to generate a CGT liability at the time, will eat into the losses carried forward.

T McGibney said:

Hi Brendan

That's not the case. There is no concession that needs to be applied for.

The OP should review their asset disposals history carefully as any gains realised in the meantime, even if insufficient to generate a CGT liability at the time, will eat into the losses carried forward.

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Thanks folks.
Could you please explain "any gains realised in the meantime even if insufficient to generate a CGT liability at the time will eat into losses"
I thought any gain above 1250 was taxable and any losses must be used up before using 1250 allowance.

KOW said:

Thanks folks.
Could you please explain "any gains realised in the meantime even if insufficient to generate a CGT liability at the time will eat into losses"

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Not much explaining to do. If you've made any gains in the meantime, you must offset these first against the loss you're now carrying forward.

For example:


1250 each year is less than the CGT allowance of 1270, but it eats up the original 6000 loss.

Corola said:

For example:

Year	Gain/Loss	CGT liability	Loss carried forward
2008	-6000	0	-6000
2009	1250	0	-4750
2010	1250	0	-3500
2011	1250	0	-2250
2012	1250	0	-1000
2013	1250	0	0

1250 each year is less than the CGT allowance of 1270, but it eats up the original 6000 loss.

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Thanks folks. Even I can understand replies

I have shares in a company that went bankrupt at the end of last year - bought via Degiro in 2022 & 2024.

As the shares are now essentially worthless (total value listed as €0.72 by Degiro), I have tried to sell them to realise a loss and offset against CGT on other gains - the shares are listed in my portfolio under the market 'OTC'.

DeGiro said I was unable to sell them as the cost of the sale was more than the value of the shares.

DeGiro have offered me these options:
If you would like to remove a position from your DEGIRO portfolio that is currently Non-Liquid or Non-Tradeable, you have 2 options available to you:

• Waive your Rights of Economic Ownership of the position - (you give up all your rights in relation to the Securities that you specify herein and you Instruct DEGIRO to book these Securities away from your Balance without payment).
• Maintain Economic Ownership of the position - (Your Securities will be transferred to a foundation whose only purpose is to hold these Securities in custody: the Stichting DeGiro Custody Non-liquid Assets. You remain the economic beneficiary of the Securities).

Can anyone recommend what option I should take if I want to realise the loss for the purpose of offsetting against CGT on other gains?
Cheers

Neither.

Google "Revenue CGT negligible values claim" or something similar