Capital gains tax deadline and treatment of losses

You are reminded that the deadline for payment of capital gains tax (CGT) on chargeable gains arising between 1 January and 30 November 2019 is 15 December 2019. Revenue Tax and Duty Manual Part 19-02-05 has been updated to reflect the fact that a deduction in respect of an allowable loss can only arise when there is a chargeable gain against which that loss can be offset.

The CGT due on or before 15 December must be paid online using Revenue Online Service (ROS) or myAccount. If the taxpayer is exempt from mandatory efiling then an email should be sent to the Payment Accounting section of the Collector-General’s Division and payment should be sent along with the appropriate payslip (CGT Payslip A). The corresponding CGT return is due to be filed no later than 30 October 2020.