capital gains tax how much and when to pay

Hi,

I invested 10K in a company 10yrs ago at an agreed interest rate. This week I received payment of the original investment plus 11K interest.

I am just wondering how much of the 11000 profit I need to pay in capital gains tax as this was not deducted. Also when do I need to paid the tax to revenue? Do I do it right away or next year?

Any help would be appreciated as I'm just a regular PAYE worker and never had to make returns like this before.

Thanks

Did you buy shares or did you give them a loan?

The scheme was operated by Glanbia coop - the society's revolving share plan. It was open to farmers and employees - I was an employee at the time.

Any other opinions on this would be appreciated.

OK I'm not familiar with these Glanbia revolving shares, but assuming they are taxed in the same way as a "normal" sale of shares...:

• You have made a capital gain of 11k, minus any transaction costs you incurred. That's your capital gain.
• You reduce it by an annual exemption of 1,270, which leaves you with c.10,730 to pay CGT on.
• At a CGT rate of 33% for disposals in 2013, that's about 3.5k in tax.
• Assuming your shares were disposed of since 1 January 2013 then you'll be due to pay your CGT on or before 15 December 2013.
• The obligation to pay is a separate one from the filing of an actual CGT return - you don't make a return in relation to the disposal until you file your 2013 income tax return in 2014, and there is a section on the Income Tax return for declaring the disposal/gain.
• If you don't file an income tax return, i.e. PAYE taxpayer only, then you can file a form CG1 next year, on or before 31/10/2014.

Thats great - thanks