CGT gains and losses on ETFs

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ionapaul

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I have recently sold units of an ETF for a profit; I'm also planning to sell an ETF at a loss before the end of the year. Can I balance the gain on one versus the loss on the other, or is it different with ETFs?

What if I sell some regular stocks at a loss; can they used to offset the tax I owe on the ETF?

Thanks for any insight you may have.
 
ionapaul said:
I have recently sold units of an ETF for a profit; I'm also planning to sell an ETF at a loss before the end of the year. Can I balance the gain on one versus the loss on the other, or is it different with ETFs?
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I don't think so. You can't even carry losses on an ETF forward to offset future profits on the sale of further units in the same ETF. Also remember that the calculation is not made on a first in, first out basis but rather is calculated on an average basis.

What if I sell some regular stocks at a loss; can they used to offset the tax I owe on the ETF?
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No. The gain on stock is liable to CGT. The gain on an ETF is liable to income tax. Two different taxes and not offsetable in either direction.
 
Sorry for resurrecting this thread; I think I made about €4,000 on the ETF - what rate of income tax do I owe on this? Does it depend on my salary?

What about the annual CGT allowance? I presume it can't be used for the sale in question? (if not I'm gonna lock in some other gains made in 'standard' equities).

Finally, does any know what form(s) is used to declare the ETF gain?
 
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