I came across this on the revenue website. Cannot paste the link as I am new to this site.
However I cannot find a way of entering the loss on the CGT section of the form 11.
Capital Gains Tax Treatment applicable to Former Eircom Shareholders.
Vodafone shareholders who acquired their shares in exchange for Eircom shares in 2001 will not have a capital gains tax liability, as the following calculations show:
Example 1.
CGT Computation of shareholder who opted for the Capital Option and Sale of the Verizon Shares: An Individual with 1000 Vodafone Shares received the following:
Cash (1000 x €0.3585437) €358.54
26 Verizon Shares (Price per share €34.0835897) €886
545 New Vodafone Ordinary Shares:
Cash in respect of fractional entitlements in Vodafone Ordinary Shares and Verizon shares (assumed Nil in this example)..
Computation
Amount of Consideration (Return of Value) on 1000 Vodafone Ordinary Shares
Cash € 358
Verizon Share Value € 886
Total Consideration €1,244
Less Part of Base Cost applicable to this part-disposal
Net Loss (721)
Example 2..
CGT Computation of shareholder who opted for the Capital Option and retained the Verizon Shares:
Computation (using the same 1000 share example as above).
Amount of Consideration (Return of Value) on 1000 Vodafone Ordinary Shares
Total Consideration - Cash € 358
Less Part of Base Cost applicable to this part-disposal
Net Loss (207)
No capital gains tax is payable by former Eircom shareholders, as they have a CGT loss –
€721 or €207 in the examples above - which is available to be offset against other chargeable gains (if any) or, if unused, to be carried forward to be offset against chargeable gains in the future.
Indexation of the Base Cost has not been included in the examples, as no CGT liability arises. Fractional entitlements have been disregarded.–