Personal Capital Gains Tax – Payment Deadlines 2017

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Capital Gains Tax is a self- assessment tax. This means that you must calculate gains on disposal of chargeable assets (e.g the disposal of property or shares) and pay the capital gains tax by reference to the dates below.  The gain will be declared on your tax return for 2017, but any tax due must be paid now. 

Note that a disposal for CGT purposes takes place when the terms of a sale or gift are agreed – not when the assets or cash change hands. The gain or loss is taxable under the Capital Gains Tax (CGT) legislation

The due dates for payment of Capital Gains Tax (CGT) are as follows:

• Where the gain arises before 1st December in any year the CGT is payable by 15th December of that year, and

• Where the gain arises in the period 1st December to 31st December the CGT is payable by 31st January of the following year.

If you need help from OSK calculating your CGT liability, please provide us with details of any disposals made between the 1st January – 30th November 2017 by the 8th December 2017.  The CGT will be due for payment by 15th December 2017. You can email OSK or call 01 4394200.

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