Capital Gains Tax 2018 – Payment dates
If you dispose of any chargeable assets throughout the 2018 calendar year it is important that you inform us of such disposals at your earliest convenience to allow us determine whether you have a liability to CGT.
- Any disposal of capital assets made between the period of 1st January 2018 – 30th November 2018, may result in a liability to CGT which is payable by the 15th December 2018.
- Any disposal of capital assets made in December 2018 may result in a liability to CGT payable by the 31st January 2019.
Please note that, in respect of disposals made by way of contract, the date of disposal is determined by the date of the contract and not the date of transfer/conveyance.
In the event that you make any disposals of capital assets during 2018 please forward the following details to us:
- Date and cost of acquisition of the asset.
- Details of any additional costs incurred in the acquisition and/or disposal.
- Date and proceeds of disposal.
- Details of any additional expenditure incurred in enhancing the asset concerned.
To enable us to complete the computation and make a timely payment if necessary, I would appreciate if you could forward all relevant information to us as soon as possible after the disposal.
The FMB Tax team