How to figure out old exchange rates for CGT purposes?

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Pauliwalnuts

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Ok here's my scenario

I bought 104 shares in a company in 1998 @ $9.055 so total cost to me was $941.72. They are now valued at $28.18 so $2930.72 in total.
Net Gain is $1989

I have been trying to figure out dollar exchange rates back in 1998 using the Central Bank website but the fact that we had a currency change is greatly screwing me up.

By my calculations I paid $941.72 on 30/06/1998 which equates to £674 punts which equates to €855.98.

If I am right those shares are now worth $2930.72 which is €2056.49 at todays exchange rates.

Using Ismael Whales Irish CGT calculator http://www.askaboutmoney.com/clubman/cgtcalc.htm

tells me that I don't owe any CGT on these shares due to the 1270 exemption.

Have I got all this right or are my calculations seriously flawed ??

Also if I seel further shares that I have bought during 1999 at the same time is the 1270 exemption all used up on the 1st batch ??

In other words is that tax exemption only allowed once during this calendar year & should I wait till next year to avoid paying any CGT again.

I know these questions are probably very basic but I just haven't got a clue when it comes to this stuff & if I can avoid paying tax legally then I will.
 
Thanks Clubman.

Looking for an assurance that I have this right I guess. I know it's only basic maths. The thing that got me questioning myself is that according to the calculator I am not liable for any CGT on this set of shares when I always presumed I was.

By my calculations I paid $941.72 on 30/06/1998 ( Ex rate that day £1 = $1.3962 )
which equates to £674.48 punts which using the punt / euro conversion rate equates to €856.39
 
Pauliwalnuts said:
Have I got all this right or are my calculations seriously flawed ??
Click to expand...

You've forgotten to index your base cost. The indexation rate for 1997/98 (April 97 to March 98) is 1.232. For 98/99 it's 1.212. This reduces your taxable gain below the annual exemption amount.

Also if I seel further shares that I have bought during 1999 at the same time is the 1270 exemption all used up on the 1st batch ??

In other words is that tax exemption only allowed once during this calendar year & should I wait till next year to avoid paying any CGT again.
Click to expand...

Yes, wait until next year.
 
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