Sorry, meant CGT.If you're not sure that you have a CAT liability then you really should get professional advice.
I didn't pay anything for them. I never put any money into the company and never took any out. The company was starting to do well but with business targeted solely at the UK, once Brexit came along that was the end of that.CGT applies on capital gains.
If you made a capital gain, then you may have to pay it.
The 16k from disposing of the shares would surely have to be compared to what you paid for the shares?
Didn't realise this until reading up on it last night. I presumed it would just go on this years FORM11.It’d be CGT if anything.
Most likely 33% of (€16,000 - €1,270) payable last December.
Didn't realise this until reading up on it last night. I presumed it would just go on this years FORM11.
Possibly a great shout.You should consider if you can avail of Early Retirement Relief or Entrepreneur Relief. Further details on our website:
Members Voluntary Liquidation
Members Voluntary Liquidation Experts. Call us confidentially on 01 661 4066 for a free fee quotation. Nationwide Liquidation Service.www.frielstafford.ie
Jim Stafford
yeah it's a bit unintuitive. It *does* go on the form you submit this year but also was supposed to be paid last year, because the form you're filling out this year is last year's return.Didn't realise this until reading up on it last night. I presumed it would just go on this years FORM11.
You should consider if you can avail of Early Retirement Relief or Entrepreneur Relief. Further details on our website:
Members Voluntary Liquidation
Members Voluntary Liquidation Experts. Call us confidentially on 01 661 4066 for a free fee quotation. Nationwide Liquidation Service.www.frielstafford.ie
Jim Stafford
Indeed, thank you very much Jim.Possibly a great shout.
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