When Do You Need to Pay?
If you sold, gifted or otherwise disposed of an asset during 2026, you may have a Capital Gains Tax liability.
One of the important features of CGT is that the payment deadline can arise well before the deadline for filing the tax return.
For disposals between 1 January and 30 November 2026, any CGT due must generally be paid by 15 December 2026.
For disposals taking place during December 2026, the payment deadline is 31 January 2027.
What types of transactions can give rise to CGT?
Capital Gains Tax can potentially arise on the sale, gift or transfer of a wide range of assets, including property, land, shares, investments and business assets.
It is therefore important not to assume that CGT only applies to investment property.
Depending on the transaction, even a transfer where limited or no cash changes hands can have tax implications.
How is the taxable gain calculated?
At a very high level, CGT is based on the gain arising when an asset is disposed of.
However, the taxable gain is not necessarily as simple as:
Sale proceeds minus original purchase price.
Depending on the circumstances, the calculation may also involve:
Acquisition and disposal costs;
Capital expenditure incurred on the asset;
Capital losses arising in the current or previous years;
Available exemptions; and
Specific CGT reliefs.
For older assets, additional rules can also affect the calculation.
Payment and filing are separate deadlines
This is one of the most common areas of confusion with CGT.
Although tax arising on a January–November 2026 disposal may need to be paid by 15 December 2026, the CGT return itself is generally due by 31 October of the following year. Revenue requires a CGT return even where no tax is payable because the gain is covered by an allowable loss or relief in circumstances where a return is required.
That means waiting until your next annual Income Tax Return is being prepared can be too late to deal with the CGT payment.
Example
Suppose an investment property is sold in September 2026.
The gain should be calculated during 2026 and any CGT liability will generally need to be paid by 15 December 2026.
The corresponding return reporting the disposal will normally be filed by 31 October 2027.
This separation between the payment date and filing date is why it is worth dealing with the calculation shortly after the transaction takes place.
Need help calculating your CGT position?
Podium Finance can assist with:
Reviewing the disposal;
Calculating the chargeable gain;
Identifying relevant acquisition and disposal costs;
Reviewing available losses and reliefs;
Establishing the CGT payment due; and
Preparing the relevant CGT reporting.
If you have sold or transferred an asset during 2026 and are unsure of the tax position, get in touch before the payment deadline rather than waiting until your next annual return.
Podium Finance
📞 083 335 0462
✉️ darragh.mcdonald@podiumfinance.ie
