Reminder: CGT must be paid by 15th December on gains between 1 Jan and 30 November

Brendan Burgess

Brendan Burgess

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If you made a Capital Gain on disposals between 1 January 2024 and 30 November 2024, you must pay the tax due by the 15th of this month.

You must pay 100% of the amount due (and not 90% as with Income Tax.)

You do the return by 15 November 2025.
 
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Revenue really need to set a proper deadline date instead of this floating date that changes every year. TBH I'd be happy to just go back to 31-Oct for all returns, sure who files paper retuns now anyway
 
DB74 said:
TBH I'd be happy to just go back to 31-Oct for all returns, sure who files paper returns now anyway
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The timeline between the children going back to school (before which annually, only the most dutiful worry about their tax returns) and 31 October is far too narrow given the multiplicity of taxes now involved.

It's a problem that looks destined to get worse as deadline culture scares young accountants away from careers in practice.
 
You can file your 2024 tax returns, Income Tax and CGT, at any date between 1st January 2025 and 31st October 2025

Well maybe not 1st January but certainly from the middle of January

So there is no reason for a last minute rush
 
jpd said:
You can file your 2024 tax returns, Income Tax and CGT, at any date between 1st January 2025 and 31st October 2025

Well maybe not 1st January but certainly from the middle of January

So there is no reason for a last minute rush
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Yet there is always not merely a last minute rush, but a stampede throughout the entirety of September and October and also halfway into November. It's increasingly unsustainable.
 
T McGibney said:
Yet there is always not merely a last minute rush, but a stampede throughout the entirety of September and October and also halfway into November. It's increasingly unsustainable.
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It seems like something that could be easily solved by something like variable pricing? €400 for tax returns January-April, €500 May-September, €750 October-November

I’m usually in a tax refund position, so it would suit both of us better to do the return earlier, but I don’t tend to hear from them until September or if I initiate over the summer it is given no urgency, always baffles me.
 
Zenith63 said:
It seems like something that could be easily solved by something like variable pricing? €400 for tax returns January-April, €500 May-September, €750 October-November

I’m usually in a tax refund position, so it would suit both of us better to do the return earlier, but I don’t tend to hear from them until September or if I initiate over the summer it is given no urgency, always baffles me.
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The main issue for most firms is that they must first concentrate each year on company compilation assignments that typically have a CT1 filing deadline of 23 September, and a CRO Annual Return Date of 30 September.
 
I am just doing my Jan-Nov CGT return for 15th Dec. I am a bit confused about how to handle ETF gains? Some of the online resources mention that the tax rate is 41% rate and that you are forced to declare gains after 8 years even if you haven't sold the ETF. Some online resources also state that ETF gains have to be declared for Income Tax instead of CGT?

I don't have any ETFs that I have held for longer than 8 years. Do I just declare the Capital Gains for 33% CGT tax, and any Dividend income as Income Tax, just like any other commodity?. If I sell anything before I hold for 8 years, can I avoid the 41% rate kicking in?

Any guidance appreciated, and references to where this is documented, if possible - as Revenue site is very ambiguous.
 
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Corola said:
You file ETF gains and dividends in your Income Tax return (Form 11), not your Capital Gains Tax return. The tax rate is 41% for gains and dividends.

If you hold for 8 years you have to pay tax on the unrealised gain. If you sell before 8 years you still pay 41% on the gain.

The Revenue guidance is here, section 4.1:
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Thanks Corola - that's very helpful
 
Thanks for the reminder. I'd a couple of big losers this year so, whilst there were still gains, my gains as of November 30th fall under the €1,270 threshold.
 
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