CGT loss

[elava]

Me and my ex bought AerLinger shares in 2006, the share certificate was under his name, I contributed 18,000euro. Now we separated, he returned me only 10,000 euro due to AerLinger share dropped, I lost around 8,000 euro. I am wondering if the 8,000 can be counted as CGT lose??? Thanks!

 

[Graham_07]

1) You would need documentation to show the purchase/disposal and your share of the loss.

2) CGT losses are only available against other CGT gains, not income tax. So if you have any gains made on which CGT might be due the loss would then be usable againt that.

 

[elava]

He hasn't disposed the AerLinger shares yet, my portion of share was calculated with current AerLinger share price and sold to him, that is private deal, there is no any document.

 

[Graham_07]

If they have not been disposed of then there is no real loss yet for CGT purposes. They could rise in value and ultimately make a gain. Unless they have been disposed you cannot claim a CGT loss.

 

[elava]

Thanks Graham_07, that is sad news, as my portion of the share has been disposed and can not claim a CGT loss.

 

[Graham_07]

Unfortunately, the matter of your ex giving you back less than you contributed is a matter between you and him. Since the shares are not disposed of no CGT loss has as yet arisen.

 

[Billo]

As far as I remember the shares were at approx. €2 each in 2006. Now they are at 50 cent, so a 75% drop. So you are not doing too badly after all. I may be wrong about the €2.