As we step into the new year, it’s crucial to be mindful of pending financial responsibilities, especially when it comes to Capital Gains Tax (CGT). The dates for both payment and filing are intricately linked to when you sell, gift, or transfer an asset.

Your payment for CGT is due before you file your return. For instance, if you disposed of an asset between 1 January and 30 November, payment is due by 15 December. The return, in this case, will be due by 31 October of the next year.

Now, let’s focus on the deadlines:

1. Initial Period (1 January to 30 November):

   • Payment Deadline: 15 December of the same year.
   • Return filing is due by: 31 October of the next year.

2. Later Period (1 December to 31 December):

   • The crucial date to highlight: Payment Deadline – 31 January of the next year.
   • Return filing is due by 31 October of the following year.

Be aware that a late payment incurs an interest charge, and missing the deadlines altogether incurs penalties.