These rules are particularly important for PAYE earners who are not already in the self-assessment tax system. It is very easy to overlook the key tax dates involved. The Capital Gains Tax Self-Assessment System of Taxation applies to all individuals regardless of whether you are a PAYE earner or self-employed.
If you sell or otherwise dispose of an asset and owe Capital Gains Tax thereon, it is payable under our self-assessment tax rules. This means the responsibility is yours to ensure that tax is paid on time and details of the disposal made in your tax return form to your Tax Inspector. If you do not comply with these rules you will have to pay interest and penalties to the Revenue in addition to the tax owed.
Tax Payment Dates
The tax due is payable on the following dates –
15 December – Each year for assets sold/disposed during the preceding 1 January to 30 November (Initial Period).
31 January – Each year for assets sold/disposed during the preceding December (Later Period).
As you can see from above dates you do not have much time between selling/disposing of an asset and having to pay the tax due on the gain.
Tax Return Date
Your tax return for the tax year in which an asset was sold must be sent to the Revenue by 31 October following the end of the tax year.
If you miss this date you will be charged a penalty along with the tax due.This applies even if you actually paid the tax on time but were late sending in your tax form.
Examples
A. Property sold in August 2025
Capital Gains Tax due say €40,000. This must be paid to Revenue by 15 December 2025.
B. Property sold in December 2025
Capital Gains Tax due say €40,000. This must be paid by 31 January 2026.
In both of the above examples the tax return giving details of the disposal must be sent to the Revenue by the 31 October 2026 (or the e-file extension to mid-November).
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