Informing Revenue on purchase of shares

Silversurfers

Registered User
Messages
10
Hi, I bought BOI shares in 2010 and didn't inform revenue(my ignorance).

Can I now do so online and can I add broker fees and stamp duty to cost of shares?

Thanks for any advice.
 

noproblem

Frequent Poster
Messages
1,895
Don't actually know if you've to inform them of the purchase, but you certainly do if you sell
 

dublin67

Frequent Poster
Messages
262
From memory I do recall that there may be a filing requirement if you purchase chargeable assets in a given year. You would typically enclose these details on a Form 11 or Form 12 (depending on your taxable status). A Form CGT 1 may also be used. However I would say that this filing requirement is missed in a large amount of cases so I personally wouldn't be too bothered if I missed (and I most certainly would not make a back filing). I would consider it as more of a minor venial sin rather than a mortal one.

Your second question is that you can add broker fees and stamp duty to your base cost.
 

noproblem

Frequent Poster
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1,895
Long time since I heard of a venial sin. Many's the corner it got me out of and the priest was never too worried either. Hope they make a comeback, badly needed at times when a lie is too obvious:)
 

Ravima

Frequent Poster
Messages
2,484
You don't have to tell Revenue you have bought shares. You must pay CGT on profits when you sell, if over the CGT limit.
 

seamus1968

Registered User
Messages
29
As far as I know you just need worry only when you dispose of the the shares. On a daily baseis there are probably thousands of transactions with people buying shares. If everytime someone buys shares needs to inform the revenue, they would be inundated with extra bureacucracy. It makes no sense. I lived in different countries in the western world and never came across a place where you need to declare that you bought shares.
 

Gordon Gekko

Frequent Poster
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3,738
There’s a section in the Form 11 where you disclose assets acquired during the year.

Yes it’s no big deal not to complete it, but it’s there.
 

noproblem

Frequent Poster
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1,895
I'd imagine for anyone investing a substantial amount in shares and only reporting it when selling, there would be questions as to where the money to buy them came from.
 
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