CGT - Form 11 or 12?

Space Dog

I sold shares last year and had a net profit of more than 5000 euro from that sale. I'm about to file form CG1 and form 12 online (leaving it late, I know...) and read up on a few things on the Revenue webpage. I'm now confused if I need to fill in form 11 instead? For form 11, I can see the following information:

An individual with a PAYE source of income and with net assessable non-PAYE income (including income subject to DIRT), of €5,000 or more is regarded as a ‘chargeable person’ for Self-Assessment and must file a Form 11 for that year.

Does that make me a ‘chargeable person’? Or is CGT not considered as "income"?

Thanks!

whatever76

This is what I did last year

• Sold shares in 2019 with X CGT amount and just paid it directly on ROS via Pay a bill ( tag it with CGT) that year - I think there is a deadline to do this from what you get the money I just paid it directly in ROS and thats all I did in 2019 when I got the CGT
• I then declared it in Form 11 in 2020 for 2019 tax returns in CGT section. I recorded how much I paid to ensure the amounts added up and it all balanced out then when you do you final submission at the end of the form

Now I am no expert and this is after a lot of reading documentation, confusion and asking people. after all the stress I simplified to the above - so double check in case I am wrong. I haven't had tax guy after me yet anyway !

Space Dog

Thanks!

I did pay CGT when it was due last year. I guess I'll have to fill in form 11 then, which is a right pain since I can't do it online...

relax carry on

That 5000 euro limit is to do with income tax not capital gains tax. If you are a normal PAYE registered individual with CGT then you just download a form CG1, fill in and either post it in or easier send as an attachment via MyEnquiries.

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