Robert Graham Tax Consultancy

20/01/2023

For capital disposals (such as property, shares) made between:
1 December and 31 December 2022 (the final CGT period), you must pay CGT by 31 January 2023, if you made a capital gain.
If you have any queries on this important tax deadline or have other tax issues, please get in touch on 0871906657 or [email protected]

17/11/2022

For disposals (such as property, shares) made between:

1 January and 30 November 2022 (the initial period), you must pay CGT by 15 December 2022, if you made a capital gain.

If you have any queries on this tax deadline, please get in touch on 0871906657 or [email protected]

17/04/2022

There are reliefs from Capital Gains Tax (CGT) when disposing of residential property. PPR (Principal Private Residence) relief when selling your family home and the 7 year CGT exemption for property purchased during certain periods between 2011 - 2014. Both reliefs subject to conditions. If you are selling property at a capital gain please get in touch on 0871906657 or [email protected]

22/03/2022

Revised Entrepreneur Relief gives a Capital Gains Tax (CGT) rate of 10% on gains from the disposal of qualifying business assets (such as company shares). There is a lifetime limit of €1 million on the gains that you can claim relief on.

The normal CGT rate is 33%. As an example, if you sold company shares at a profit and met the conditions for this relief your CGT rate would be 10% and not 33%.

On a disposal (sale) of €1 million this would be a tax saving of €230,000.

If you require more details on this extremely valuable tax relief or have any other tax queries please contact me on 0871906657 or [email protected]

09/03/2022

If you are granted stock options by your employer, such as through a scheme like EPSS (Employee Stock Purchase Plan), there are Income Tax implications on exercise of these options and Capital Gains Tax implications on disposal.

There is also paperwork that needs to be submitted to Revenue within certain timeframes to prevent surcharges and interest arising.

If you need tax advice on the above or any other tax issue please call me on 0871906657 or email [email protected]

22/02/2022

Tax Residency

You can be resident, ordinarily resident, domiciled or any combination of the three.

If you are resident and domiciled in Ireland for tax purposes, you are chargeable to tax in Ireland on your worldwide income. Worldwide income is the total income that you earn anywhere in the world in a tax year. This is subject to any relief due under the terms of a relevant Double Taxation Agreement.

12/01/2022

When to pay your CGT:

For disposals made between:

1 January and 30 November (the initial period), you must pay CGT by 15 December of the same year.
1 December and 31 December (the later period), you must pay CGT by 31 January of the next year.

If there were capital disposals in the month of December 2021, CGT is payable 31 January 2022 if there was a capital gain.

13/12/2021

I am a Chartered Tax Adviser. Initial Capital Gains Tax (CGT) deadline with Revenue is this Wednesday, 15 December. If you have made a capital gain on property, land, shares, cryptocurrency in 2021 please call me on 0871906657 or email me at [email protected] - Thanks, Robert.

07/12/2021

I provide tax advice on Cryptocurrency. Cryptocurrency can be taxed under Income Tax, Capital Gains Tax or Corporate Tax all depending on whether its viewed as an Investment or whether you or your company are trading in Cryptocurrency. The tax implications can be substantial if proper tax advice is not taken. On a high level, income tax can be up to 50%+, CGT rate is 33% and current Corporate Tax Rate is 12.5%. Please feel free to contact me on this or any other tax on 0871906657 or [email protected]

Chartered Tax Adviser A.I.T.I.

06/07/2021

You might be due relief on CGT if you dispose of property acquired between 7 December 2011 and 31 December 2014.

Any gains made on a property acquired between 7 December 2011 and 31 December 2014 are exempt from CGT.

You will get full exemption providing that you:

owned the land or building for at least four and up to seven continuous years

and

sold the property on or after 1 January 2018.

For property bought in this time there is partial CGT relief if held for longer than 7 years.

If you require further details on this 7 year CGT Exemption and very valuable tax relief from capital gains tax, please give me a call on 0871906657 or email me on [email protected] – I am a Chartered Tax Adviser. The timing of purchase and sale is crucial for tax reasons. Thanks, Robert.