CGT Dates

Eldrew

Hi All

Just a small query re CGT payment and return dates:

If I sell shares today, am I correct in saying any CGT due must be paid by Dec 15th 2020 but CGT return is not due in Oct 2021?

Also for a PAYE earner who has hd no liability to CGT previously, where on revenue.ie/MY Account are the above done?

Thanks in advance

Stratvs

Re payment & filing dates you are correct.

Currently PAYE services in Revenue My Account don’t support CGT filing, you have to do a manual filing on CG1 form. Only full form 11 on ROS has the CGT option. Hopefully the CGT online for PAYE will be part of a My Account upgrade.

Eldrew

Stratvs wrote: »

Re payment & filing dates you are correct.

Currently PAYE services in Revenue My Account don’t support CGT filing, you have to do a manual filing on CG1 form. Only full form 11 on ROS has the CGT option. Hopefully the CGT online for PAYE will be part of a My Account upgrade.

Thanks for that. Can I pay by credit card on Revenue My Account?

Stratvs

Eldrew wrote: »

Thanks for that. Can I pay by credit card on Revenue My Account?

https://www.revenue.ie/en/gains-gifts-and-inheritance/transfering-an-asset/when-how-do-you-pay-and-file-cgt.aspx

If you register for CGT you can then pay on MyAccount. It's not automatically there. You need to send a My Enquiry for it to be added.

You can also file the payslip manually and make payment via card ( seee reverse of the payslip at link below )
https://www.revenue.ie/en/gains-gifts-and-inheritance/documents/cgta.pdf

lukari

HI,
As I understand you need to report any dispose of assets,so i sold few shares ,gain less than 1270 so dont need to pay but under what i report that gain?
Thank you

Stratvs

lukari wrote: »

HI,
As I understand you need to report any dispose of assets,so i sold few shares ,gain less than 1270 so dont need to pay but under what i report that gain?
Thank you

If you’re PAYE Form 12 filer then form CG1 can be used.
If you’re a ROS Form 11 filer then there is a section in the Form 11 for that.

starstreamer8

Hi,
I am a paye worker and need to make a CGT return for a gain in Dec 2020. I have an option to pay the tax in myaccount but can't find any option to do a return online and I cant find a CG1 form for 2020. Any advice on how to make the return?

spuddy

starstreamer8 wrote: »

Hi,
I am a paye worker and need to make a CGT return for a gain in Dec 2020. I have an option to pay the tax in myaccount but can't find any option to do a return online and I cant find a CG1 form for 2020. Any advice on how to make the return?

You need to pay any tax due for 2020, but the return itself isn't due until the normal cutoff point (normally Oct 31 for paper returns). That's why the 2020 CG1 isn't available yet.

starstreamer8

that makes sense. thanks a mill.

spuddy

starstreamer8 wrote: »

that makes sense. thanks a mill.

No problem, it's far from intuitive!