Dominic Coyleanswers your questions.

Ryanair share certificates

I have held a small number of Ryanair shares for some years. Earlier this year there was a 2 for 1 share split but I have not received a new certificate or any other correspondence from the company about this.

I contacted Capita Registrars about this some weeks ago but am still awaiting a reply.

As I wish to dispose of the shares in the near future I am concerned that I will not be able to do so without a certificate for my current holding.

Can you offer any advice on this?

Mr B Mc C, Dublin

You are quite right about the share split earlier this year although I am surprised that you would not have received any communication on the matter. You say you have held the stock for some time, so it is possible that the registrars have an old address for you.

It is also worrying that you have received no reply from the registrars to your query after a number of weeks. That shouldn't happen - especially on what I understand is a very straightforward issue.

I spoke to Capita this week and they told me that you are correct when you say no new certificates have been issued. The company has decided not to do so. Instead, each certificate dating from before the share split will now be deemed to carry twice the number of shares stated on the certificate. This should be reflected in the share register which is maintained by Capita.

I can only assume that the company decided the cost of issuing new certificates would be onerous. As a general rule, companies and brokers are trying to move away from certificates. They would state that this is for security reasons, and there is a degree of truth in that.

However, certificates are also seen as being heavy on administration.

There is no problem with you disposing of your shares as and when you wish. As a precaution, I would suggest you take a copy of your certificate for your own records before sending it in as part of any disposal.

I would also include a note with the original certificate reminding the broker that your holding is now double the number of shares stated on the certificate.

Fund access

I am a 79-year-old pensioner who recently got a windfall of €65,000. I have a private pension to live on, which is not really adequate for my needs. Where could I invest my money to get maximum interest but still be able to withdraw it at short notice if necessary?

Mr P McD, Tullamore

If you are looking to get immediate access to your funds, you are really looking at a demand deposit or short-term notice bank account. There are a plethora of such accounts on the market at the moment.

The best value, according to Moneymate which monitors such accounts, is to be found at the Irish online subsidiary of Dutch bank Rabobank. Rabobank.ie offers an interest rate of 5 per cent on savings up to €10,000 although the rate slips to 3.8 per cent on sums above that threshold. Another online option, Northern Rock, pays 4.3 per cent on savings provided they exceed a minimum threshold of €1,000.

However, if, like many elderly people, you are not comfortable with the concept of online banking, the most competitive rate for a lump sum investment in a deposit account is Anglo Irish Bank's 4.25 per cent. The one restriction on this account is that you must give 30 days notice of your intention to withdraw the case.

Deposit account interest is generally liable to Deposit Interest retention Tax (Dirt) at 20 per cent. People over 65 whose income is below the income tax threshold - €19,000 for a single person and €438,000 for a married couple - can fill out a DE1 form available at the tax office or www.revenue.ie and send it to their bank to ensure no Dirt is levied on the account.

Capital losses

Can you advise if Capital Gains Tax incurred in 2006 can be offset against equity losses in the following two scenarios: "an equity loss in a Malaysian company in voluntary liquidation 2007"; and "an equity loss in an Irish company in voluntary liquidation 2007".

I am a regular reader of your column and would appreciate your professional advice.

Mr J S, e-mail

The first thing you need to be fully aware of is that I am not in a position to dispense professional advice. I am a journalist, not an investment or tax adviser. This is an information service and the advice proffered is not intended to replace professional advice.

The general rule about capital losses is that they can be offset against gains occurring in the same tax period or in subsequent periods until they are fully offset. However, there is no provision to offset losses against a capital gain made in a previous tax period.

Tax on any capital gain you made in 2006 was due to be paid on October 31st - if the gain was made before the end of September - or by January 31st, 2007, for any gains realised in the last quarter of 2006.

As such, there should be no outstanding gain available to offset 2007 losses against.

If you have not paid the tax due on 2006 capital gains, you face interest charges and penalties from the Revenue on top of any tax due. I suggest you contact them before they contact you.