CGT - 2 queries

V

Voodoo

Registered User
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Hi all,

Just have two queries regarding CGT -

1) we are looking to sell our house soon as we are buying a site and building. Will we need to pay CGT on the sale of our house? If so, how is this calculated?

2) I recently sold some share options and wondered when do I need to pay the CGT on these? Do I need to pay within 30days of sale or do I have until 30th October (as would appear from the first form here - http://www.revenue.ie/en/tax/cgt/forms/index.html)

Thanks in advance
 
If the property has always been your PPR, there will not be any CGT.

If you exercised them, the exercise value will be the cost to you for CGT purposes, and CGT will be payable on the normal due dates depending on the date of disposal.

The RTSO1 tax payable within 30 days is the income tax due on exercise and is not related to CGT.
 
If the house value is greater than its current use value then CGT could be payable on the house. This is highly unlikely given the current climate. However an example would be a house in the middle of a town being bought at an exorbitant price by say Tesco or other shop due to its strategic location.
 
Thanks all. Yes, I did pay te RTS01 but was confused about the CGT on the tax. So do I use the 2008 form or the 2009? Its just the latter doesnt look right...
 
If the disposal took place in 2008 - use the 2008 tax return. If it took place in 2009, it goes on your 2009 tax return in due course.

You also need to complete a CGT payslip if a liability is due, by the relevant date.
 
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