Couple Seek Advice on Tracking Bank of Ireland Shares for Capital Gains

Understanding Capital Gains on Bank of Ireland Shares

If you’ve landed here, you’re likely seeking advice on understanding the complexities surrounding Bank of Ireland shares and their potential capital gains. This can indeed be a daunting task, especially when you have a pile of paperwork to sift through. However, fear not, as you’ll find valuable insights and guidance in this article.

The Importance of Tracking Share Purchase Data

One thing many investors overlook is the importance of keeping track of when they purchased or received shares and at what price. This information becomes crucial when selling shares, as it helps determine potential capital gains tax (CGT) liability.

The Scenario with Bank of Ireland Shares

Investors in Bank of Ireland shares, particularly those who received shares as part of their employee benefits or dividends, often face difficulties in tracking down accurate purchase data. Despite the obstacles posed by GDPR regulations and changes in data storage policies over the years, all hope is not lost.

How Computershare Can Help

The Computershare service, which acts as a share registrar for companies such as Bank of Ireland, can be quite helpful in tracking down when and at what price shares were acquired. While it can be an extensive exercise, it’s vital for understanding the financial position of your shares.

Understanding Capital Gains Tax (CGT)

The good news is that there might not be any CGT liability associated with the sale of your Bank of Ireland shares, given their current trading prices. However, this is a complex area and professional advice should be sought before you make any decision.

Transition to Electronic Shares

Given that all Irish shares have transitioned to electronic form as of this year, any physical share certificates are no longer valid. However, this doesn’t alter your rights as a shareholder and actually makes the selling process smoother.

Do you have more questions or need further assistance? Reach out to us at dominic.coyle@irishtimes.com with your queries. Please note that this information provided here is a reader service and is not intended to replace professional advice.