Capital Gains Tax Ireland | CGT Planning and Compliance
What Is Capital Gains Tax (CGT) in Ireland
Capital Gains Tax (CGT) applies when an individual or business disposes of an asset for more than its original cost. This includes selling, gifting or transferring assets such as property, land, shares, investments and certain business assets. CGT is a self-assessed tax and must be calculated, reported and paid within strict Revenue deadlines.
Common Transactions That Trigger CGT
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CGT commonly arises on the sale of residential or commercial property, disposal of investment properties, sale of shares, transfers of assets between connected parties, gifting assets to family members and disposal of business assets.
Capital gains
- Capital Gains Tax Computation
- Capital Gains Tax return
- Personal tax return
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CGT Rates and Reporting Deadlines
CGT is charged at the prevailing rate set by Revenue. Payment deadlines depend on when the disposal occurs during the tax year. Late payment or late filing can result in interest and penalties.
Capital Gains Tax Reliefs and Exemptions
Several reliefs may reduce or eliminate CGT exposure, including Principal Private Residence relief, Retirement Relief, Entrepreneur Relief and certain transfer exemptions. Eligibility depends on specific conditions being met.
Why CGT Advice Is Important
CGT calculations can be complex, particularly where reliefs, partial disposals or connected-party transactions apply. Professional advice ensures compliance, reduces tax exposure and avoids costly errors.
Frequently Asked Questions
What is Capital Gains Tax (CGT) in Ireland?
CGT applies when you dispose of an asset for more than it cost to acquire, including property, shares and investments.
Does CGT apply if I gift an asset?
Yes. Gifts are treated as disposals at market value and may give rise to CGT even where no money is received.
When is Capital Gains Tax payable?
CGT must be paid within specific Revenue deadlines depending on the disposal date.
Are there reliefs available to reduce CGT?
Yes. Reliefs such as Principal Private Residence relief and Retirement Relief may apply if conditions are met.
Do I need to file a CGT return if no tax is due?
In many cases yes, as reporting obligations may still apply.
Can CGT be planned in advance?
Yes. Early planning can significantly reduce CGT exposure through reliefs and timing strategies.
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