I am an AIB shareholder who has lost a considerable amount of money due to the need for Government bailout of bank. You are one of very many people nursing significant losses on their investment in Irish banks. The collapse of Irish banks in the financial crisis has led to very real hardship for many of these people, hardship that was often borne stoically by a generation uncomfortable with the intrusion into personal grief involved in seeking front-page headlines.

That holding, as you note, was built up over several years of bailouts by the government of the time as the bank battled to survive. However, that loss will not be crystallised until you sell that one share. Until then, there is always the prospect of the share price rising to allow you to recover some of the paper losses on your investment.

But until you sell and there is clarity about the actual loss incurred, it is impossible to have a precise figure to attribute as a capital loss and to set against possible gains elsewhere in a portfolio of assets.

The consolidation itself is not an event that activates a capital loss or gain. In this case, the losses are registered at section They file for capital gains tax only when they make a gain on which they need to pay tax. In any case, you should carefully retain any records and receipts for share acquisitions and disposals for future needs.

This column is a reader service and is not intended to replace professional advice.

Good time to buy AIB or BOI shares??? - pupuzifecose.web.fc2.com

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