When you sell shares for a loss you cant buy them back within 4 weeks and claim that CGT loss. However if you are trading and you pay income tax, this rule doesn't apply does it?
That is correct where you are trading. However, you would want to be doing some volume of transactions to be regarded as trading. There is a U.K. case where an individual had 300 trades in a year and was still not trading.
That is correct where you are trading. However, you would want to be doing some volume of transactions to be regarded as trading. There is a U.K. case where an individual had 300 trades in a year and was still not trading.
That said, never underestimate the willingness of Irish Revenue to apply their own interpretation to definitions, especially if it provides a means to levy extra tax, even when this conflicts with existing case law!