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At TaxAssist Accountants we are very familiar with capital gains tax legislation and calculate the minimum required CGT payments for our clients all the time. We also file any required tax returns.
 
At TaxAssist Accountants we can:
 
  • Offer a free consultation to discuss your CGT requirements
  • Set a fixed fee at a competitive price for the work to be done
  • Prepare your CGT tax return
  • Calculate your CGT tax liability
  • Analyse your return to see if any tax savings can be made
  • File the CGT return 
  • Liaise with you on the amounts to be paid and when they are due
  • File your Form 11 Income Tax Return if necessary
 

Need CGT support?

Contact TaxAssist Accountants for a free, no-obligation consultation.

045 814418

Or contact us
 

What is CGT?

CGT, or capital gains tax, was introduced in Ireland in April 1974. CGT is a tax levied on gains made on the disposal of capital assets.
 
 

What assets do I need to pay CGT on?

 
There are many common assets that can be subject to CGT when they are disposed of, such as shares, land, property, precious metals etc.
 
 

What is the CGT rate in Ireland?

 
The headline rate of CGT in Ireland is 33%, so approximately one third of your gain will be paid in tax. However, note that Revenue provide certain reliefs and exemptions from CGT. Depending on the circumstances of each specific case, careful planning can result in a lower rate of tax (or possibly no tax).
 
 

What returns to I need to file?

 
Capital gains tax returns need to be filed when you sell an asset using Form CG1, or via the CGT section of the annual income tax return (if self-assessed for tax).
 
A form 11 tax return form may also need to be filed. 
 
 

What is the CGT deadline?

 
Where you make a gain on the sale of an asset in the period from 01 January 2024 to 30 November 2024, Revenue’s CGT payment deadline is 15 December 2024. 
 
Where you make a gain on the sale of an asset in the period from 01 December 2024 to 31 December 2024, Revenue’s CGT payment deadline is 31 January 2025.

 

Capital Gains Tax on Shares

If you are part of an employee share scheme at work you need to pay Capital Gains Tax (CGT) when you sell shares.

It is your responsibility to pay calculate what CGT is due and file the appropriate tax returns on time.

If you are an employee with shares read more about tax on shares here
 

Capital Gains Tax Planning

For more complicated Capital Gains Tax transactions you may benefit from tax planning. In instances where you are selling a business or structuring investments in new businesses it is advisable to seek professional help to explore the tax planning opportunities available to you. By getting advice before you make your disposal you could mitigate or reduce potential tax liabilities.

The laws around Capital Gains Tax are very complicated. There are many reliefs and exemptions available which may lead to significant tax savings.

Read more about Capital Gains Tax Planning here

 

Looking for an accountant to help with CGT returns?

Contact TaxAssist Accountants for a free, no-obligation consultation.

045 814418

Or contact us

Frequently Asked Questions

Capital Gains Tax is a tax that needs to be paid in respect of gains made from selling, transferring or otherwise disposing of assets.

Some common assets that people sell, that are subject to CGT, include investment property and common stocks and shares.

The rate of CGT in Ireland is currently 33%, so approximately one third of your gain will be paid in tax.

Once you are registered for CGT you can pay the tax you owe online through ROS or myAccount.

If assets are sold on or before 30 November any CGT is due by 15 December in the same tax year, while if assets are sold during the month of December any CGT payment is due by 31 January in the following year.

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