Form CG1 Help

LifeBegins

Registered User
Messages
15
I’d be very grateful for any/all help received in getting me over the final hurdle; my last ever tax return in respect of a partial PPR/Partial
Rental property I sold late last year.

I worked out the Capital Gains and made payment last year as required. I now have to return the CG1. No options to do this online... back to paper forms. The one revenue sent me is actually the 2018 CG1 with handwritten ‘2019s’ included throughout.

I paid capital gains as follows:

Owned house 2002-2019 (18 yrs)

Sale price €126500

Purchase price including solicitor fees and indexation relief applied: €102560

*********** expenditure €6158

Cost sale (legal, EA) €3945

Profit €13836

PPR relief, 10 of 18 years €7687
Personal exemption €1270

Net profit €4880
0.33 Capital Gains paid €1610

I’m unsure how to transfer the relevant bits to the CG1 form.

Page 2,

1h, Aggregate Consideration is sales
Price €136500

5a, claims to relief, disposal of PPR, do I enter €7687?

I can see personal exemption section point 15

Chargeable gains... This is where I’m lost. Do I just make deductions as detailed above without listing them and just enter €4880?

Sorry if I’m taking in riddles. I don’t think I’ve ever seen a form with such little guidance available from revenue! Thanks for any guidance in advance.
 

Ciru75

Frequent Poster
Messages
92
I worked out the Capital Gains and made payment last year as required. I now have to return the CG1. No options to do this online... back to paper forms. The one revenue sent me is actually the 2018 CG1 with handwritten ‘2019s’ included throughout.
Do you have an income tax return to do for 2019? You can do the Capital Gains on the online Form 11.

5a, claims to relief, disposal of PPR, do I enter €7687?
Chargeable gains... This is where I’m lost. Do I just make deductions as detailed above without listing them and just enter €4880?
Correct on both of these.
 
Top