Capital Gains Tax

F

Farmer Joe

Guest
Hello folks.

Can somebody please answer my query. I am nearing retirement age and would like to buy a holiday home in Kerry. If I sell an old farmhouse (not my residential home) and a few acres to purchase house in Kerry - will I be liable to Capital Gains Tax and at what rate?
 
The fact that you roll the money into another purchases is irrelevant. If you sell a non PPR capital asset at a gain then you will be liable for CGT at 20% on any gain less any allowable acquisition price indexation, expenses and allowances. Best to get independent professional advice.
 
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