Hi couple of questions around this, hopefully someone can help.
Do you need to do a CGT return if its just recording a loss?
Will revenue automatically take this off future gains, or do I need to keep track of this?
I am a regular PAYE employee, can I file for CGT on MyAccount. I dont see any option under "Income Tax Return"?
If not on MyAccount what Online process do I need to follow for GCT returns
If I record a loss of €100 this year with revenue and in 5 years time record a separate gain of €100 (ignoring the annual exemption), they would obviously be able to net both out and I would have no liability. Otherwise I am telling them twice about the loss.
If I record a loss of €100 this year with revenue and in 5 years time record a separate gain of €100 (ignoring the annual exemption), they would obviously be able to net both out and I would have no liability. Otherwise I am telling them twice about the loss.
No, if you don't claim it in the return in 5 years time, they won't give it to you. They have no way of knowing whether or not it has been absorbed in the meantime by other gains, and in any event the level of detail captured of a CG1 or Form 11 in respect of capital gains/losses is scant.