CGT - when Payable

M

mickeyg

Guest
If I sell an asset in October this year on which I have to pay CGT when will that tax be payable - this October or next? If that sale was in November would the CGT not be payable until October 2005??

m
 
Payment dates for disposals on or after 1/1/2003 are as follows:

a) If the disposal was made on or before 30 September in the tax year the tax is due on 31 October in that tax year
b) If the disposal is made from 1 October to 31 December in the tax year the tax is due on 31 January in the following year


Return of Capital Gains must be made by 31st October in the year following year of assessment without being required to do so by the Inspector of Taxes.You may do this by completing the CGT Section of your annual return (Form 11 or Form 12)

Stu
 
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