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Possibly overpaid CGT last year

  • 05-03-2025 03:36PM
    #1
    Dublinandy3
    Registered Users, Registered Users 2 Posts: 536 ✭✭✭


    Hi All,

    I have just completed my CG1 form and sent it off. After completing it I think I may have accidently paid about 500 quid too much last year when I paid the tax on it. If I have paid too much, will they tell me and if so, will I have to wait until next year to claim it back or can I after they process my form given I paid it last year?

    TIA



Comments

  • #2
    SureYWouldntYa
    Registered Users, Registered Users 2 Posts: 7,873 ✭✭✭SureYWouldntYa


    It would depend how the €500 overpayment came about

    If it was due to additional expenses you have now discovered, then the chargeable gain will likely be the old figure and you will need to submit an amended CG1 to Revenue as without a full audit of your case they won't pick up on the gain being incorrect

    If you filed out the form incorrectly and you calculated the tax at 35% for example then it may be picked up on when they issue the self assessment letter but i would not be surprised if it was not picked up on

    You should submit an amended CG1 now noting why and how the tax overpayment has occurred and once processed they should issue the refund



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