whatsmoney
Registered User
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Hi folks
I am trying to determine the figures that I can use for CGT losses I made as a result of the Eircom flotation (1999).
I have found the below three articles that have gone some way to help me, but I need clarification on one point, before I'm fully satisfied:
A) https://www.charteredaccountants.ie/taxsource/1997/en/act/pub/0039/tb/sec0584-1-tb.html
B) https://www.accountsadvicecentre.ie/vodafone-return-of-value-to-shareholders-tax-treatment/
C) https://www.irishtimes.com/business...ost-of-my-remaining-vodafone-shares-1.1809806
From the articles, I believe I can offset 4 losses:
1) Loss on Valentia cash offer for Eircom shares (2001)
2) Loss on Verizon share sale (2014)
3) Loss on Cash received as part of Verizon deal (2014)
4) Loss on sale of remaining Vodafone shares (whenever sold post 2014)
In Article A), the base cost for a Vodafone share. at the time of the Vodafone buyout of Eircell (2001), is officially determined by Revenue to be 4.66
However in both B) and C) the base cost used for their calculations in the Verizon deal (2014) is 4.46.
The final Vodafone base cost (to be used for Vodafone share sales post 2014), they calculated, using this 4.46 figure, is 4.58.
Can someone please help to explain why and how the 4.46 figure is calculated.
I believe it may have had something to do with the free share allocated for each 25 shares held, on the one year anniversary in 2000, of the flotation.
Or is it a mistake - and 4.66 should have been used - which in turn would mean a different final base cost to 4.58 should result?
Thanks for any help on this.
I am trying to determine the figures that I can use for CGT losses I made as a result of the Eircom flotation (1999).
I have found the below three articles that have gone some way to help me, but I need clarification on one point, before I'm fully satisfied:
A) https://www.charteredaccountants.ie/taxsource/1997/en/act/pub/0039/tb/sec0584-1-tb.html
B) https://www.accountsadvicecentre.ie/vodafone-return-of-value-to-shareholders-tax-treatment/
C) https://www.irishtimes.com/business...ost-of-my-remaining-vodafone-shares-1.1809806
From the articles, I believe I can offset 4 losses:
1) Loss on Valentia cash offer for Eircom shares (2001)
2) Loss on Verizon share sale (2014)
3) Loss on Cash received as part of Verizon deal (2014)
4) Loss on sale of remaining Vodafone shares (whenever sold post 2014)
In Article A), the base cost for a Vodafone share. at the time of the Vodafone buyout of Eircell (2001), is officially determined by Revenue to be 4.66
However in both B) and C) the base cost used for their calculations in the Verizon deal (2014) is 4.46.
The final Vodafone base cost (to be used for Vodafone share sales post 2014), they calculated, using this 4.46 figure, is 4.58.
Can someone please help to explain why and how the 4.46 figure is calculated.
I believe it may have had something to do with the free share allocated for each 25 shares held, on the one year anniversary in 2000, of the flotation.
Or is it a mistake - and 4.66 should have been used - which in turn would mean a different final base cost to 4.58 should result?
Thanks for any help on this.