No CGT owed on disposal - declare to revenue?

Hi there,

I came into some shares earlier this year. To utilise my CGT allowance of €1,270, in November I sold off just enough shares so that my profit was €1,200 - less than the threshold.

I don't have any plans to make any more disposals this year.

My question is whether I need to declare this disposal to the revenue by January 31 2009, telling them I made a disposal but nothing is owed?

I can't find any reference to this point on the Revenue website or in Key Posts.

Any opinions, I'd be much obliged.

Regards,
Flann

Without checking the legislation, I'm pretty sure that you need to declare it in your 2008 tax return, which you will need to submit by end October 2009 (or later if using ROS). As you don't owe anything, you won't need to make any payment by 31 January 2009.

Regards
Homer