TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

Treatment of allowable CGT losses

Revenue have confirmed that there is no requirement for a person to include a CGT loss in a tax return for the chargeable period in which the loss arises for the purposes of validating the loss.

Revenue’s Tax and Duty manual Part 19-02-05 has been updated at paragraph 5.1 to clarify that, where an allowable loss arises in a chargeable period and there is no chargeable gain against which it may be offset in that chargeable period, there is no requirement for a person to include the loss in a tax return for the chargeable period in which the loss arises.