Capital Gains Tax on shares

[roxymusic]

Hi,

I have disposed of some shares and would like some advice on how i pay the gains due to the tax man. Can I simply go in to the tax office and complete a tax form there or is it part of my returms as a paye taxpayer. What I really need to know is it just a matter of declaring the gain & paying the 20% due anf if so what is the name of the tax form in question. Finally do i need an expert in this regard to 1. work out the actual gains & 2 if its complicated to fill out the form.

All replies appreciated as I want to get this affair of my back before I forget to! ROXYMUSIC

 

[bazermc]

Your capital gains need to be declared on a normal tax return eg form 11 or 12 etc...There is particular section of the return for dealing with same.

Do you know the rules for computing taxable gains etc.....? I not, have a look at the revenue guide to CGT. Both the guide and the tax returns are available on revenue.ie and have a search through some old posts on AAM.

For disposals made in 2006 you need to make a return before 31/10/2007
And for diposals made in 2005 the return needs to be filed before the end of this october 2006.

However the payment due dates differ to the filing deadlines for disposals made between 1 January and 30 September the CGT needs to be paid before 31 October in the same year. Then for disposal made between 1 October and 31 December the CGT needs to be paid before 31 January of the next year.