declaring capital gain from sale of shares

scrips · 12-10-2016 11:02PM #1

Could someone please clarify for me whether it is alright not to have yet declared to Revenue my capital gain on some shares sold in June 2015? At the time I thought I had until 31st October of the following year to declare the gain. However just as I was about to knuckle down and do the paperwork, this evening, I read that I should have paid the Capital Gains Tax due last year, even though I wouldn't have to make the full declaration until this year.

I would also like clarification that the rate of CGT is currently 33%, and that I would have a personal tax exemption of €1,270? Which if it is the case, leaves me with nothing to pay as the profit on my shares was around €1,000.

I know there's a lot of material I could wade through to find the answers but it's late and I'm tired and I don't have time during the day and I just want to be done with this. I'm a PAYE employee if that makes any difference.

scrips · 12-10-2016 11:23PM

In retrospect ... I think I have answered my own questions and just need to file something called Form 12, even though I am due to pay nothing.

Lockedout2 · 12-10-2016 11:43PM

http://www.revenue.ie/en/tax/cgt/forms/formcg1.pdf

whiskeyman · 20-10-2016 05:44PM

I need to declare CGT on shares I sold this year at a profit that exceeds the exception.
Do I just tax on everything above the exception or tax full if its above?

also, I'm PAYE so do I need to file returns, or will this do?

As I got 2 dividend payments prior to selling, where does tax get paid here?
It was from a UK company.

I really need to get better at understanding this!

exaisle · 28-10-2016 05:08PM

whiskeyman wrote: »

I need to declare CGT on shares I sold this year at a profit that exceeds the exception.
Do I just tax on everything above the exception or tax full if its above?

also, I'm PAYE so do I need to file returns, or will this do?

As I got 2 dividend payments prior to selling, where does tax get paid here?
It was from a UK company.

I really need to get better at understanding this!

Download the form linked above by Lockedout2 and complete it.

The Net Chargeable Gain will be the total received less any charges/expenses(eg stockbroker fees) less €1270.
The CGT payable will be this figure multiplied by 33%.

Dividends are assessable to Income Tax and you should include them in section 27 of the eForm 12, downloadable from the Revenue website or complete it online.

declaring capital gain from sale of shares

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