UCITS Funds - Offset arised income against a realised loss in the same year

[Derek Maloney]

Hi all, more UCITS confusion for any UCITS experts out there

For taxation purposes as an Irish resident, can you offset income arising from distributions generated by a UCITS fund against a realised loss in that fund in the same year?

Any clarity greatly appreciated!

 

[AAAContributor]

Details	EUR
Buy	100
Sell	99
Distribution	1
Profit before tax	0
Tax on distribution @ 41%	0.41
Profit after tax	(0.41)

This is my understanding of your situation and no would be my answer to your question if you are Irish resident and domiciled for tax purposes.

 

[jpd]

No

The distribution is taxed at 41%
The loss can not be offset

 

[Derek Maloney]

Many thanks @AAAContributor and @jpd - appreciate the quick and informative response.