Almanac

What it models ›

Capital and investment taxes

Every sale, gift, inheritance and investment return is taxed as it is charged: person by person, holding by holding, lot by lot.

Capital gains tax

CGT is charged on each person, with each person's own annual exemption, losses coming off before it.

  • A spouse's unused losses pass to the other spouse; a cohabitant's do not
  • The four-week rule (s.581) on shares held directly; government bonds exempt (s.607)
  • Principal private residence relief (s.604), pro-rated by the years lived in, with the final months counted
  • Entrepreneur Relief on the sale of a business, within each seller's lifetime limit
  • No CGT at a death, and the base cost stepped up for whoever inherits
Deirdre's Tax page: every kind of tax over her traced life, largest first.
Deirdre's Tax page: over her traced life, the largest kind of tax is ETF exit tax, then tax on her rents (Case V), then PAYE.

Gifts and inheritances (CAT)

Capital acquisitions tax with each beneficiary's lifetime record by group (A, B and C), starting from what each has already received. The small gift exemption is applied for each giver. A cohabitant has a record of their own, and at a death inherits under Group C, with Dwelling House Relief where it applies.

Deposits, dividends and bonds

  • Deposit interest under DIRT, refunded from 65 where the age rules allow (s.267)
  • Dividends charged at the marginal rate, the withholding tax a credit against it
  • Bond interest under Case III; for index-linked bonds only the real coupon is income

Exit tax and the deemed disposal

A fund taxed under the exit-tax regime is followed lot by lot: each purchase has its own date and cost, and each reaches its eighth anniversary on its own, when the deemed disposal is charged.

  • A deemed disposal before today leaves a credit against the later sale (s.739E(1A))
  • A loss under exit tax is lost, as the law has it
  • A deemed-disposal year is marked on the Money in and out and Tax charts
An example

Cormac's ETF already had a deemed disposal before today, so its first cost and the tax already paid give a credit when it is sold or meets its next anniversary.

Property taxes

  • Local Property Tax on each home in Ireland by its valuation band
  • Stamp duty on a purchase, added to the base cost for CGT
An example

Saoirse holds a bit of everything: shares, funds, government and corporate bonds and deposits, so CGT, exit tax, DIRT and dividend tax all meet in one plan, and the government-bond exemption counts.

See it on a real client

Every page of the dashboard is in the demo, on example households, with their brief and pack.

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A modelling tool for regulated advisers. It recommends no product; the advice remains yours.