Capital Gains Tax Query

[Liam1]

I invested 20,000 euro in a company in the form of preferance shares.Any profits would have been liable to CGT.The company has gone bust at this stage.Will I be able to write of this 20,000 euro against any future gains I may make, if brave enough to do it again.Tks

 

[WaterSprite]

You should be able to. I've done this before & I wrote to Revenue notifying them of my investment & that it had been written down to zero. If you make any gain above zero having written it down, that's taxed as normal.

 

[Liam1]

Thanks for that.I presume I would be allowed recoup my 20,000 before been liable for CGT on the balance.Can this be recouped over a number of years or is there a time frame on it.Could I use this loss to write off other gains.

 

[WaterSprite]

Have a look at the Revenue [broken link removed], which is pretty clear.