Capital Gain v Loss

[chasie]

Hi all
I have an investment in a company that is no longer quoted on the stock market

I accept that i have lost my money and cannot sell the shares

What do need to do to make this loss available to offset against future gains(hopefully) in my other investments

 

[CorkGuy12]

Is this Anglo Irish by any chance? (I'm in the same boat)

Their website states:

An Assessor will be appointed by the Minister for Finance to assess whether compensation should be paid to those persons whose shares will be transferred to the Minister for Finance and, if so, to determine the fair and reasonable amount payable as such compensation. At this time, it cannot be said whether you will receive any compensation or, if you are entitled to compensation, how much you will receive.

Which I guess means that the shares are suspended rather than liquidated. I suspect I just have to wait to be told that I have sold them to the minister for 0¢!, before it can be written off for real.

 

[Setanta12]

Nope, CGT legislation allows shares of a market value close to zero to claim a CGT loss despite retaining ownership of the shares (if memory serves, you need the Revenue's permission).

But in the event of a future sale of those shares and a gan thereon, the base cost is the price at which you claimed the loss -best explained as, the Revenue giveth -the Revenue taketh away !

 

[JQ2002]

I had a similar experience where a Company de-listed, I wrote to the Company's Regsitrar and asked for confirmation of the Company's de-listing from the Stock exchange for tax purposes.

I think it was Computershare that replied, hope this helps.