CGT Treatment of Anglo Irish Bank Share Losses
Posted on | October 28, 2009 | No Comments
As an Anglo Irish Bank Shareholder, the value of your stake in the bank was not finalised on the nationalisation of the bank earlier this year. According to Minister of Finance Brian Lenihan an assessor would be appointed at a future date to decide on the treatment.
However from a tax point of view, and in particular from a CGT perspective, the shares are being treated as being of negligible value and as such a CGT loss can be calculated and used in 2009 as an offset against gains elsewhere.
Should a value be placed on the shares at a future point in time, then any disposal would then be made against a notional cost of zero. No need to hold your breath on that eventuality occurring though.
This treatment of Anglo shares could be very helpful to you in terms of your tax planning, in particular if you are considering disposal of shares for a gain.
Tags: anglo > anglo irish > anglo irish bank > capital gains > cgt > dividend > dividend tax > dividends > dividends tax > income tax > tax
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