Capital Gains Tax is a self- assessment tax. This means that you must calculate gains on disposal of chargeable assets (e.g the disposal of property or shares) and pay the capital gains tax by reference to the dates below. The gain will be declared on your tax return for 2017, but any tax due must be paid now.
Note that a disposal for CGT purposes takes place when the terms of a sale or gift are agreed – not when the assets or cash change hands. The gain or loss is taxable under the Capital Gains Tax (CGT) legislation
The due dates for payment of Capital Gains Tax (CGT) are as follows:
If you need help from OSK calculating your CGT liability, please provide us with details of any disposals made between the 1st January – 30th November 2017 by the 8th December 2017. The CGT will be due for payment by 15th December 2017. You can email OSK or call 01 4394200.
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