Revenue outline due dates for payment of CGT emphasising that tax is due by reference to the date of disposal. Delays in closing contracts will not be accepted as a basis for not paying CGT and interest will be applied accordingly.

This eBrief offers little comfort on the practical cashflow difficulties facing individuals who sign a contract for the sale of an asset before 30 Sept or 31 Dec in a year of assessment but don't actually receive the proceeds until the date of conveyance or closing of the contact which can often occur sometime after the date the tax becomes due for payment. Revenue will not accept this explanation for the delay in payment and will apply interest on late payments.

Revenue eBrief No. 20/2008 is reproduced at Section 2.02.