When/How/Should I notify Revenue of ETF purchases that occurred this year?

you can not setoff losses on one etf against gains on a different etf
 
If you purchase them from an Irish Broker, they will submit details to the Revenue, I think

It isn't the fact that they are domiciled here that is key, it's where they are held and through who you purchased them. If you purchase them through a broker based in Belgium, the Revenue have no way of knowing that - no matter where they are domiciled
 
So ETFs bought on Degiro need to be declared the year they are bought. I didnt know that! Which form is used?
 
money_man said:
So ETFs bought on Degiro need to be declared the year they are bought. I didnt know that! Which form is used?
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If you bought them in 2020, then you declare them in 2021 on Form 11. To have access to this, you must register for income tax on My revenue, which will give you access to the ROS system - that's what I've gathered up to now
 
If you sell, or sold, them in 2020 then the tax is due in 2021 - but preliminary tax is due in 2020 - well, due yesterday
 
money_man said:
I didnt think you had to declare the purchase of an Irish domiciled ETF? Is that the case?
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Hi all, to clear things up i have directly contacted revenue on this matter, they have informed me in writing that - 'A declaration is to be made once you have sold, this can be done on your form 12 or a CG1 form'. They have not stated that you must declare when you have bought one.

They have also written to me in relation to registering to pay exit tax or indeed CGT for us newbees through the revenue at the following:

'I have registered you for CGT purposes as per your email.
If you wish to make a payment, please contact the Collector General's office on 01-7383665'

I hope that this helps !

Ix
 
I'm not sure if one sold an ETF today for a gain, would the deadline to pay the exit tax be 30 January 2021, or the pay-and-file deadline of 31 October 2021.

The Revenue ETF pdf - 27-01A-03 - doesn't mention specific deadlines.

This is from Revenue pdf 27-01a-02 covering exit tax for investments but I can't see if this also applies to ETF's;

5 Returns and payment of exit tax
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5.1 Mandatory e-filing of returns and payment of exit tax.
An investment undertaking must make a return of appropriate tax (exit tax) to Revenue –
in connection with chargeable events occurring between 1 January and 30 June in a particular year, by 30 July of that year,
and in connection with chargeable events occurring between 1 July and 31 December in a particular year, by 30 January of the following year.
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tax_moron said:
If you bought them in 2020, then you declare them in 2021 on Form 11. To have access to this, you must register for income tax on My revenue, which will give you access to the ROS system - that's what I've gathered up to now
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If ROS is already setup, do you have to ask Revenue to manually add a Form 11 to your ROS account?
 
Thanks for this link - according to this document dated Oct 2020, we need to declare the acquisition of an ETF in Form 11 under the "Foreign Income" section.

Does anyone know which section that is on that page in ROS?

I'm trying to fill it out but am confused as to which section to use for my Irish domiciled UCITS ETFs what with all the different options.


Any help appreciated!
 
Ixlandia said:
Hi Tax_moron, did you manage to succeed in paying revenue? Was it easy?

Thanks
Ix
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Hey, I wouldn't say it's exactly easy; and I have yet to pay anything yet although I believe I have my Form 11 filled out correctly for now (that is, my CGT and dividend IT are added, as well as my ETF purchases are logged too - the ETF part is in the offshore funds section IRRC).

I have a non-related issue due to covid payments that I need to address with my employer, as such I am waiting to pay my IT for the moment (covid payments gave me a big IT bill you see).
 
Thanks for getting back to me ! Regarding the form 11, did you fill it out electronically or paper?

Thanks
Ix
 
I have recently gone through this process in ROS using the online portal. I haven't submitted the Form11 yet but have added my ETF purchases and dividends. The amount of tax owing tallies with the figure expected.
I'm a PAYE worker. I selected the "Use prefilled form" option. The addition of the ETF data was pretty much the only amendment I had to make to the Form 11. If you are in a similar position I would suggest you go through the relevant screens, ensuring your tax liability tallies with what you are expecting. Then add the ETF data.
You can save the Form11 at any stage and come back to it. It also allows you to delete it and start again from scratch with a new prefilled form.
 
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