Capital Gains Tax - What You Need To Know
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
Or contact usLast updated: 2nd September 2026