Advice on Capital Gains Tax needed

M

missey1978

Registered User
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from reading a few threads here I am guessing that CGT is more complicated than I had first anticipated!! In a nutshell I am selling shares and the money should be in my account in 2 weeks time. So Im presuming that I have to pay capital gains tax on what I get from the sale of the shares? How do I do this? Do i just ring my tax office and sort it out that way and get their advice?
Any advice would be welcomed.
Thanks!:)
 
You need to calculate the chargeable gain, if you have no other disposals, you set your annua exemption against this, then calculate the CGT. This will be payable by 15 December 2009. Send a cheque with a payslip (you can download this from the revenue website) to the Collector Genersl.
 
Yea this has helped somewhat.....Im not sure what no other disposables mean to be honest....Sorry...pure dumb when it comes to this. Thanks to you both for your replies.
 
If you sell shares for €10,000 which cost you €6,000 you have a Capital Gain of €4,000

You can reduce this by your annual exemption of €1260 (?)

However, if you have disposed of some other items this year already and if you have used your exemption, then you can't use it again.
 
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