Trying to sell Irish shares while resident abroad ...

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mikeyny

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I hold share certificates in 3 Irish traded companies all have lost value since I purchased them .
This was 20 years ago . I am hoping to use the loss to offset a Capital gain on a house I am selling .
I am a US resident and am tax compliant both there and here .
I have contacted Davy and they don’t open accounts for US residents .
How can I bring the loss forward ?
I have an account in the UK that holds my old Eircom now Vodaphone shares that i should also sell if I can .

During the Celtic tiger it felt like everything turned to gold .

Thanks
Mikeyny
 
mikeyny said:
I hold share certificates in 3 Irish traded companies

...

I have an account in the UK that holds my old Eircom now Vodaphone shares that i should also sell if I can .
Click to expand...
Are you saying that some or all of these shareholdings are in paper certificate form or in electronic form?
 
The Vodaphone are held electronically with Equiniti .
I hold the others in paper form with my US address as I had moved in the mid 2000’s
 
Ok, you can presumably sell the Vodafone ones via Equiniti as and when you want?
But I've always been bamboozled by how to work out any loss on Vodafone shares given all the changes over the years.
There is a post here that purports to explain it but I've never understood it.
At this stage, I expect to just donate my < €2k of Vodafone shares to charity at some stage because doing anything else is just to much work.

With the paper certificate shares you'll most likely need to convert them into electronic holdings before you can do anything.
Again I think that there is a key post on this.
But your domicile issue may be a complication and I'm not sure how you will get over that if it is.
 
What are the three companies in which you wish to sell the shares?

What is the current value of each holding?

I think it's possible, though awkward, to sell shares without a broker.

Brendan
 
And if they’ve been effectively wiped-out, the negligible value claim route might be worth looking at.
 
The company's are
Bank of Ireland 19 shares
BEX Barryroe Offshore Energy 250 shares
Greencore 879 shares

Anglo irish Bank about 1 inch of paper shares in lieu of dividends.
 
The Anglo shares are worth nothing, so you can claim a nil value. You need to do this during this tax year.

I presume that the Greencore shares are worth more than you paid for them?

Are the Barryroe shares worth 2.5 pence each or £2.50 ? Assuming it's 2.5 pence, it's not worth selling them and the negligible value route mentioned by Gordon would be the way to go.

No 39 of 1997, Section 538, Revenue Tax Briefing

No 39 of 1997, Section 538, Revenue Tax Briefing
www.charteredaccountants.ie

The Bank of Ireland shares are worth €180 so I doubt that would be considered negligible. Contact the Registrars: https://investorrelations.bankofireland.com/shareholder-information/faqs/#:~:text=The Bank's Registrar is:,24, D24 AK82, Ireland.&text=Telephone: + 353 1 247 5414,: + 353 1 216 3151.
 
With Barryroe paid 1250 originaly and the holding is now worth 7.63 , that’s over a 99% loss .
With BOI PAID 1649 originally and it’s worth 184 now so only around an 89% loss .
Greencore is down about 40%
Eircom/ Vodaphone is difficult to calculate but can be done .
Thanks for all the advice it seems as if the A team is on my side .
 
That’s quite a tangled web . I had thought the capital payment in 2017 was the only issue I had with Greencore .
it seems I never cashed the check at the time and am getting a new one issued less a £63 fee . Compushare were really efficient with this today .
 
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