Capital Gains Tax Deadlines: Key Dates and Tips

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Knowing the deadlines for Capital Gains Tax payments can help you avoid unnecessary penalties. Here's a breakdown of the important dates and what you need to do to ensure timely compliance.

Key Payment Deadlines for Capital Gains Tax:

• For gains made before 1st December:
  CGT is due by 15th December of the same year.
• For gains made between 1st and 31st December:
  CGT is payable by 31st January of the following year.

What You Need to Do

To help you meet these deadlines, it’s essential to provide details of any disposals (sales or gifts) within the following timeframes:

• For disposals between 1st January 2024 and 30th November 2024:
  Submit details by 5th December 2024.
• For disposals between 1st December 2024 and 31st December 2024:
  Submit details by 20th January 2025.

What Counts as a Disposal?

You must pay CGT on gains made from the sale, gift or exchange of an asset such as land (including development land), buildings (houses, apartments, or commercial property), shares in companies (Irish-resident or non-resident), assets that have no physical form such as goodwill, patents and copyright, currency (other than Irish currency), assets of a trade, foreign life insurance policies and offshore funds, and capital payments (in certain situations).

Why Timely Reporting Matters?

Providing details of your disposals in advance allows us to calculate your CGT accurately and ensure you meet all payment deadlines. Missing these could result in penalties or interest charges.

Need Assistance?

If you have any questions about your CGT obligations please contact OSK at advice@osk.ie or call 01 439 4200. We’re here to guide you through the process and ensure compliance.

 

 

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