Capital Gains tax recoupe

jand123 · 15-10-2024 01:10PM #1

Hi There

I did my online income tax and realised I had paid too much CGT the year before. When I get to signing the return it only looks at my other tax owing, not the CGT refund. Will processing the return look at this or is there another way?

Or should I include it somewhere in the self assessment page?

Thanks

SureYWouldntYa · 15-10-2024 04:31PM

Do you mean you paid too much for 2023 when making the payment last year and you are now completing the CG1 and you are overpaid?

The self assessment section at the bottom should go 'amount of tax payable', then 'amount of tax paid' following by 'balance of tax payable/repayable'. I assume you put your €9,000 in amount of tax payable, the €10,000 in amount of tax paid which will then be €1,000 in balance of tax repayable. Once Revenue process the CG1 the refund should issue.

If you are filing a Form 11 as someone registered for Income Tax, the above should be done automatically and once you file the return you'll get the refund in a day or two since it doesn't need manual processing

jand123 · 16-10-2024 05:00PM

Yes Thanks, I overpaid when I paid last year and when filling in my form 11, the assessments asked me to pay the balance of my other income, but not refund the CGT assessment page. I guess the won't automatically refund then?

Capital Gains tax recoupe

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