Capital Gains Tax

There are many common assets that can be subject to CGT when they are disposed of, such as stocks, bonds, property, precious metals. 

The rate of Capital Gains Tax in Ireland is currently 33%, so approximately one third of your gain will be paid in tax.

 

Capital Gains Tax on Shares

If you are part of an employee share scheme at work Capital Gains Tax (CGT) when you sell shares.

It is your responsibility to pay calculate what CGT is due and file the appropriate tax returns on time.

When you need pay CGT is dictated by when in the year you sold your shares. If the shares are sold on or before 30 November CGT is due by 15 December in the same tax year, while if the shares are sold during the month of December the payment date is 31 January in the following year.

If you are an employee with shares read more about tax on shares here
 

Capital Gains Tax Planning

For more complicated Capital Gains Tax transactions you may benefit from tax planning. In instances where you are selling a business or structuring investments in new businesses it is advisable to seek professional help to explore the tax planning opportunities available to you. By getting advice before you make your disposal you could mitigate or reduce potential tax liabilities.

The laws around Capital Gains Tax are very complicated. There are many reliefs and exemptions available which may lead to significant tax savings.

Read more about Capital Gains Tax Planning here