Pretty simple really section 951 TCA 1997 refers
Losses incurred must be returned/filed, hence the box 809 appearing on the 2005 Form 11.
If you had lossses, that you did not declare, you would be deemed to have filed an incorrect return. This does not mean that the losses are unavailable for offset against a future gain. There is no legislation or case law precedent that provides for this restriction. Instead you can simply declare losses in prior year in box 810.
Of course revenue can go after you for making an incorrect return, but in all honestly I think they have better things to be doing with there time. i.e. a letter of repair to a form 11/12
Lastly, there is nothing stopping you from making a subsequent declaration of capital losses after the return has been filed.
Regarding loss restrictions the only restrcition in place refers to corportaion tax. This serves to restriction the amount of losses available for use where a return is late
Losses incurred must be returned/filed, hence the box 809 appearing on the 2005 Form 11.
If you had lossses, that you did not declare, you would be deemed to have filed an incorrect return. This does not mean that the losses are unavailable for offset against a future gain. There is no legislation or case law precedent that provides for this restriction. Instead you can simply declare losses in prior year in box 810.
Of course revenue can go after you for making an incorrect return, but in all honestly I think they have better things to be doing with there time. i.e. a letter of repair to a form 11/12
Lastly, there is nothing stopping you from making a subsequent declaration of capital losses after the return has been filed.
Regarding loss restrictions the only restrcition in place refers to corportaion tax. This serves to restriction the amount of losses available for use where a return is late