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Capital Gains Tax - What You Need To Know

If you’ve sold or gifted an asset, like property, shares or land, you may be liable for Capital Gains Tax (CGT). Here’s how it works and how to reduce your bill.

Last updated 2 Sep 2026 | First published 1 Jan 2013

By Gearoid Condon, FCA 1 min read

Capital Gains Tax (CGT)

What is CGT?

CGT is a tax on the profit (gain) you make when you dispose of an asset. Assets could include property, shares or land etc. You only pay tax on the gain, not the full sale price.

What’s the current CGT Rate?

33% for most disposals
40% for foreign life policies and offshore investment funds
15% or 12.5% for certain venture capital investments

When Do You Pay CGT?

Disposals between 01 January and 30 November 2026: Pay by 15 December 2026
Disposals in December 2026: Pay by 31 January 2027
File your CGT return by 31 October 2027

Late payments attract interest and penalties, so mark your calendar!

What Reliefs and Exemptions Are Available?

€1,270 annual exemption per individual
Losses from current or previous years can offset gains (but not carried back)
Transfers between spouses or civil partners are CGT exempt
Principal Private Residence Relief may apply if you sell your main home
Retirement Relief for business owners aged 55+
Site transfer to a child (under €500,000 and <1 acre) may be exempt

How to Reduce Your CGT Bill

Offset capital losses from other disposals
Claim enhancement expenditure and professional fees as allowable costs
Use foreign tax credits if you’ve already paid CGT abroad

Final Thoughts:

If you’re gifting an asset, CGT is still calculated using the market value, not the price (even if it’s €0). So, make sure to plan ahead!

Need help with CGT?

Contact TaxAssist Accountants for a free, no-obligation consultation to get a fixed fee quote

061 310429

Or contact us

Last updated 2 Sep 2026 | First published 1 Jan 2013

This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.

Gearoid Condon, FCA

Gearoid is a highly experienced Chartered Accountant with 25 years of expertise in business consultancy, specialising in supporting SME business owners. Gearoid has worked with start-ups and with established businesses to improve the way they run, with particular focus on growth, efficiency, and structuring operations. Through his experience Gearoid has a strong understanding of the tax system and business regulations in Ireland.

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