December 15th, 2025, is the deadline for paying Capital Gains Tax (CGT) on gains arising in the period 1st January to 30th November 2025.
You may have a liability to capital gains tax if you made a gain on a disposal or transfer of assets including foreign assets, for example:
- Land & property
- Shares
- Foreign currency bank balances converted to Euro
Does a charge to CGT only arise if I ‘sell’ an asset?
NO: CGT also applies if you transfer ownership of an asset in some way. Therefore, if for example you gift an investment property to your child a charge to CGT may arise.
Are all disposals subject to CGT?
No, not all disposals give rise to a charge to CGT but even if no CGT arises, you may still have to file a return and claim the exemption.
How is my liability calculated?
You will be liable to CGT on any gain you make. At its simplest the gain is calculated as the difference between the purchase price and the sale price. The current rate of capital gains tax is 33%. Deductions are allowed for certain qualifying costs.
What about losses from disposal of assets in previous years, can they be used to shelter the gain?
Yes, unused capital losses arising in the current or earlier years may be offset against the gain provided they have been filed within the relevant time limits. If you have unrealised losses on investments, now may be a time to consider selling them and utilising the loss this year.
Am I entitled to a certain amount of gains each year tax free?
Each individual is entitled to an annual exemption of €1,270, i.e. if your chargeable gain in 2025 does not exceed €1,270 no CGT liability will arise.
Penalties for Late Payment?
Self-assessment applies to CGT therefore it is your responsibility to ensure that you calculate your liability and pay any tax due in advance of the deadline without being requested by Revenue to do so.
Interest on overdue CGT is charged at a rate of approx. 8% per annum, and where the return is not submitted on time the liability may also be subject to a surcharge of up to 10%.
