CG1 form

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corkred

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Hello,
Could anybody help me with a CG1 form that I am trying to fill out for this year (online PDF is just for 2012)
Question on CG1 form
Firstly do I post it to my local correspondence address (i.e in my case Cork)
On the CG1 form for 2012 does:
7.Chargeable Gains equal to Gross gains.
12. Net Chargeable Gain equal to Gross gain less loss from previous year, less commission charged for both buying and selling those shares, less personal exemption
15 a) Enter amount of net gain to be charged at 33%;Do you put in the same figure as in 12. (i.e net chargeable gain)
Or do you put in the amount of money you owe i.e 33% of the net gain.
All this is new to me so I just find it unusual that if 15a is just the net gain then there doesn’t seem to be a place on the document where you simply write in the amount of money you owe the revenue
In other words a total figure at the end of the document that will correspond to your payment to the revenue

Many thanks
 
There's no Form CG1 for 2013 yet, because you can't file a CGT return until after the year ends (i.e. you file for the whole year).

What you are obliged to do is pay the CGT by the due date for payment.

But to answer your questions, for when they do print the 2013 form:

7. Chargeable gains - this is the amount of the "Gross gain" as you call it (by which I presume you mean the difference between purchase and sale price), LESS any expenses, indexation etc that you are entitled to deduct.

12. This is the chargeable gain from 7. as reduced by losses carried forward and the annual exemption.

15. & 16. should total to the same figure as 12 & 13 (in most cases 13 is nil) - 15 relates to the first part of the tax year, and 16 relates to the second

You don't need to state on the form the amount of actual tax due - they compute that based on what you've filled in, and it should match your payment(s) for that year, which are due many months in advance of the return itself.

Form CGT2 should help you to digest the important points regarding the separate obligations of payment & filing returns http://www.revenue.ie/en/tax/cgt/leaflets/cgt2.pdf
 
corkred said:
Hello,
Could anybody help me with a CG1 form that I am trying to fill out for this year (online PDF is just for 2012)
Click to expand...

You can't file a return for this year until it's over. You have to wait to next year.

The chargeable gain is before any losses and annual allowance.

The net chargeable gain is the chargeable gain after deducting losses and the annual allowance.

15(a) is quite clear: "Enter the amount of net gain to be charged". It doesn't say to enter the amount of tax owed.

By the time you file the return the amount of tax owed should be nil as the payment is due before the return is due.
 
Form CG1

hello, I also have a question about this form.

In section 1 does aggregate consideration mean sale proceeds or gain (sale proceeds less cost)

thanks in advance for your answer
 
Hi There, Can you help me identify where I send the completed CG1 form? Can I do it online somehow (been looking through Revenue.ie and its not very intuitive)? or do I need to print it out and post it? Thanks
 
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