Setting an investment loss against income tax liability

gichuck

Registered User
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I invested €50,000 in an Irish property development in early 2007. The property company subsequently went into receivership, in 2010. All of its apparently reduced assets were sold, including an agricultural site, and all the money from the sale went to one of the banks, which had been the principal creditor. I, and a group of private individuals, lost all our investment. My question is probably naive: can I set any of my 50k loss against my income tax liability, and if so, for how many years after the loss? Thank you, folks.
 
The short answer is no.

That is assuming that you are not trading in shares and that you invested in shares. Also assuming that you are not a bank and gave a loan to the company.

If you did invest in shares then you had a capital loss which you can use against future gains.

If you gave a loan to the company then it's just lost.
 
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