Offsetting gains and losses from two parts of the year

[dub_nerd]

I made a gain on sale of shares in the initial part of the year (before November 30th) on which Capital Gains Tax must be paid before December 15th. However, I intend to sell some loss making shares before the end of the year to offset the gains and reduce them to below the €1,270 limit for CGT (but I'd prefer not to do this until December). Do I still have to make the CGT payment before December 15th? It could be the best part of a year before I file a tax return when presumably Revenue would refund the money -- why should they get to hold onto money not due?

 

[rob oyle]

In answer to your question (unfortunately) is yes you do. I suppose the Revenue would say those funds are due as at the end of November and who knows what will happen in December. Not my position on it!

 

[joe sod]

My understanding is that if you sell the loss making shares before november 30, then they can be offset against the gains made earlier in the year. I am also in the same position and that is what I intend to do. I think you must wait 28 days before you can re invest in the loss making shares for it to be valid