Messy Tax

[Bill]

Hi, my tax is a mess.
I paid Capital Gains tax last year of about 8k.
I have lost about 13k on shares over the past 10 years. Last year I was advised (badly) to pay the 8k and then this year to try and get some of that tax back - I need to organise this by 31st Oct this year I believe (again i am unclear).
I owe about 5k Capital Gains this year.
I have very little documentation for the 13k in losses.
I am outside of Ireland trying to fill in an onlineform - but can't find the correct form.
I have been phoning the tax man for about a year but I never spoken to someone I felt confident in.
Can I possibly get an extention till I return to ireland - then meet with the tax office to resolve this. Or, if tehy do not sign off on my losses today will i never be able to claim them?

 

[ClubMan]

Last year I was advised (badly) to pay the 8k and then this year to try and get some of that tax back

By whom?

I have been phoning the tax man for about a year but I never spoken to someone I felt confident in.

Do you not have an independent accountant/tax advisor? Sounds to me like you need one.

 

[Calendar]

Is it not too late. Ithink they would charge me aas much as I would benifit from the tax reduction?

 

[ClubMan]

Is it not too late. Ithink they would charge me aas much as I would benifit from the tax reduction?

Huh?! Are you Bill under a new name or something? Even if the October 31st deadline is looming it sounds like Bill has other issues that need to be sorted out so I still think that he should get professional advice on this and past years' returns rather than just lashing in something now for the sake of it that may be wrong (again?).

 

[Nellie123]

Hi Messy taxes
You do not state anywhere that you have sold those shares.
If you have you can set any losses against Gains. Capital Gains Tax arises only on the sale of an assett.

Go to Revenue .ie + capital gains tax. At bottom of that page see Reference Material. Click on CGT1. You now have 53 pages of reading material. Page 39 has the form on which you can do your calculations.

Try and get an understanding of this even if you still have to get a tax consultant (not Accountant).

Tax consultants like any consultants cost a lot of money.
You will also find the phone no of the Capital Taxes Section there and I have always found them very helpful. They may also allow you to pay in installments.

N