Patrick512
Registered User
- Messages
- 2
As long as the revenue is ok with the level of trading to be classified as CGT no matter the length of time and how many buy or sells you do then its manageable... If i get more concrete information i'll add on to the post here.
If you were trading regularly, you could be classifed as having a trade and be subject to Income Tax.
Under what rules would this be? Can I take advantage of it if it would be more advantageous to pay income tax than CGT?
Thanks for the info guys. I was reading more info on the company setup for trading shares here in Ireland anyway as you do get hit a lot along the way with all the different levels of tax before you can get your hands on the profits when its wrapped in a company.
As long as the revenue is ok with the level of trading to be classified as CGT no matter the length of time and how many buy or sells you do then its manageable. This is something i'll need to further clarify with a tax advisor to get in stone either with recorded or written clarification from the revenue or if a tax advisor knows this setup is ok with them for filling at 33%.
If i get more concrete information i'll add on to the post here.
Pat.
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