actualising share loss to offset cap gains

R

riddles

Registered User
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109
Hi,

I made significant losses on Irish banks shares they are still listed in my davy share nominee account. In my workplace I bought shares in the company I work for which I can now sell this year. I also received SOP's which I can sell but they are paid out through the company payroll and as such subject to income tax etc. My question is can I actualise some of the loss on bank shares and offset it against cap gains tax for the share sales and also is it possible to relate bank share against SOP or are SOP's strictly subject to income tax and not cap gains.

thanks,

R
 
I don't know about the SOPs, but if you sell two sets of shares in the one year, you can set the losses on one against the gains in the other.

In fact, if you sell shares at a loss, you can carry the losses forward against gains on other shares in future years.

if you sell shares at a profit and pay CGT, you cannot set losses in subsequent years against previous years' profits.
 
time limit to claim capital loss shares

IS there a time limit on how many years you can go back and claim losses if you haven't declared the losses in the year you actually had the losses.
 
If these are normal stock options and the shares involved are ALL sold when the options are exercised then the only tax due is income tax and there's no hope of using CGT losses against them.

There's a few ways of exercising share options. In Ireland with 52% tax due within 30 days of a sale order most people simply sell them all.
 
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