The purpose of the thread is more a discussion around the realisation of the loss, rather than the proceeds of the sale itself. There's a total paper loss of €12k on those six shares and I don't know if there would be a reason to hold on to them.Apologies if I'm missing something but are we talking about shares worth 6 euro .
Just get rid and be done. Close your expensive Davy account.
Why pay that much when you could use DeGiro or some other brokerage that has almost zero fees?
That makes sense, since the Anglo shares are no longer in your possession, whereas the AIB shares can still be traded. Assuming you don't even get the AIB shares sold though, you'll never be able to set those losses against a capital gain elsewhere. In a scenario where CGT is due at a future point, the cost/hassle of selling the shares then might all be worth it.This was my experience with Revenue on this issue a few years ago:
I was allowed to offset my total losses on Anglo Irish Bank shares I’d held as they were effectively cancelled by the government so the loss was technically crystallised at that time .
I was not allowed do similar with Allied Irish Bank shares. Like the OP I had a fair few but the consolidation means I now own 5 of them. Revenue said I had to go ahead and sell them and thereby crystallise the loss before I could offset them against CGT.
Luckily I had a gain of a few thousand (long story) three years ago and I was able to use a bit of the Anglo share loss to offset the CGT on that. I actually got a refund from Revenue of CGT paid which was sweet. I’m not going to go to the cost of selling my 5 AIB shares as they are paper shares and I’d have to use a broker, rack up expenses etc.. I’m holding on in the hope they become the next Amazon or Apple !!
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?