CGT return -late submission

O

oldnick

Registered User
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I liquidated my company April 2012.
Basically nothing to liquidate other than cash in bank . ca. €6k profit, after costs and personal allowance of 1.270, over amount invested.

If I submit now do I send the 30% tax plus the 10% interest penalty -or just the 30% and await Revenue response ? Or are there extra penalties besides the 10% ?

P.S. As shares were 100% in my name I don't suppose I can split the €6k with my wife and each claim the €1.270 per person CG allowance ?
 
oldnick said:
I liquidated my company April 2012.
Basically nothing to liquidate other than cash in bank . ca. €6k profit, after costs and personal allowance of 1.270, over amount invested.

If I submit now do I send the 30% tax plus the 10% interest penalty -or just the 30% and await Revenue response ? Or are there extra penalties besides the 10% ?

P.S. As shares were 100% in my name I don't suppose I can split the €6k with my wife and each claim the €1.270 per person CG allowance ?
Click to expand...

Return is not due until October this year. You can make the payment now. I can't see them chasing you for the interest on this amount.
 
cgt should be paid by dec 15 for the period jan-nov of the year concerned. Different from normal self-assessment, deadine oct following year.
 
oldnick said:
cgt should be paid by dec 15 for the period jan-nov of the year concerned. Different from normal self-assessment, deadine oct following year.
Click to expand...

Payment should be made by Dec '15 but CG1 is not due until October of the following year. Return is not late so no surcharge of 10%. Interest could be charged but very unlikely
 
How about me splitting the profit between wife and me. Is it alLowable even though shares all in my name, and can each of us claim the 1.270 alloWance ?
 
No, thought it was long shot (on the basis of what's mine is also my beloved's.)
Cheers M.
 
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