Advertisement
Help Keep Boards Alive. Support us by going ad free today. See here: https://subscriptions.boards.ie/.
https://www.boards.ie/group/1878-subscribers-forum

Private Group for paid up members of Boards.ie. Join the club.
Hi all, please see this major site announcement: https://www.boards.ie/discussion/2058427594/boards-ie-2026

CGT - Form 11 or 12?

  • 20-10-2021 02:30PM
    #1
    Space Dog
    Registered Users, Registered Users 2 Posts: 690 ✭✭✭


    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!

    Post edited by Space Dog on


Comments

  • #2
    whatever76
    Registered Users, Registered Users 2 Posts: 1,057 ✭✭✭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 !



  • #3
    Space Dog
    Registered Users, Registered Users 2 Posts: 690 ✭✭✭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...



  • #4
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,180 ✭✭✭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



Advertisement
Advertisement