2015 CGT and Gift Vouchers
2015 Capital Gain Tax (CGT)
We wish to remind all persons who sold an asset between 1 January and 30 November 2015, or if they received capital payments from such assets, that they must pay* any Capital Gains Tax due by 15 December this year.
This applies to all taxpayers, including PAYE and self-employed. We have attached the 2015 payslip.
*Interest on late payment maybe applied by Revenue for late payment.
If you have any questions on CGT please contact the office.
Small Gift Benefit -Vouchers
The €250 small benefits relief is a yearly small benefits relief and applies to a one off benefit not exceeding €250 up to and including 21 October 2015. The upper limit has been increased from €250 to €500 from 22 October 2015. If an employer gives each employee one single voucher (€250 in the period 1 January to 21 October 2015 or €500 from 22 October to the 31 December 2015) in the year, the value of the voucher can be disregarded for PAYE/USC/PRSI purposes. If the employer gives two vouchers worth €250 each, the value of the first voucher may be disregarded but the value of the second voucher has to be included as notional pay for PAYE/USC/PRSI purposes. If the employer gives one voucher exceeding the limits as stated i.e. €250 up to and including 21 October and €500 after that date then the value of that voucher (the entire amount) must be taken as notional pay