Negligible Loss Relief
If you own shares or any property on which the value of which have become negligible, revenue may allow a loss for CGT purposes
The loss is computed as if the asset had been sold for an amount equal to the value specified by the owner in the claim.
On a strict interpretation a loss arising on a negligible loss relief is allowable only in the year of claim.
However, in practice, a claim made within twelve months of the end of the year of assessment or accounting period for which relief is sought will be admitted, provided that the asset was of negligible value in the year of
assessment or account period concerned.
Subject to acceptance of the claim by Revenue
Any queries on above give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie