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Payment Deadlines

Under current tax legislation, any Capital Gains Tax (CGT) liability arising on the sale of a chargeable asset in 2023 must be discharged by the following dates.

Disposal PeriodsPayment Deadline
01 January 2023 -30 November 202315 December 2023
01 December 2023-31 December 202331 January 2024

Filing Obligations

Where the disponer is a chargeable person, details relating to the transaction(s) must be disclosed in the individual’s 2023 income tax return (Form 11).

If the disponer is not regarded as a chargeable person, the individual is obliged to file a Form CG1 by 31 October 2024.

Failure on the individual’s behalf to meet the relevant payment or filing deadlines will result in interest and penalties being imposed.

Next Steps

Where you have disposed of any chargeable assets to date, or you intend on disposing of assets before the end of the year, please contract us as soon as possible.

We will quantify your tax exposure, and where possible, we will mitigate your liability by claiming all applicable tax reliefs.

Where you have a CGT liability, consideration should be given to the crystallisation of a CGT losses prior to 31 December 2023 to ensure your overall CGT liability for the year is kept to a minimum.