1 years grace selling PPR

[dino]

Hi,
I bought a house about 4 years ago in my home town as a FTB. Then I moved to a new location last year and bought another house. I know I have a year to sell my original PPR without having to pay CGT but what happens if I wait longer than a year. I was waiting to see about a relocation back to my home town but it didn't work out so now I'm going to sell the original house. By the way, the original house was never rented.

 

[ClubMan]

I know I have a year to sell my original PPR without having to pay CGT but what happens if I wait longer than a year.

Then some portion of any eventual resale gain becomes assessable for CGT. See this thread for example. There are lots of others that cover the same ground.

 

[Domo]

Just as a matter of interest - you can choose what is your PPR - if you register with the Revenue within 2 years of acquiring the 2nd property - take professional advice before doing so.