Irish Capital Gains Tax on Sale of Main Residence in UK

P

Pesche

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Hi,

I'm having terrible difficulty getting a clear reply out of Irish Revenue on this:
I'm in the process of moving to Ireland from the UK, and already own an Irish property.
However, I am still tax resident in the UK and have been living for most of the year in what has been my main residence inn the UK for 27 years.

My question: Should I become tax residence in Ireland in 2025, having not sold my UK property yet (as I needed somewhere to live in the UK up until my definite move to Ireland), would I be required to pay Capital Gains Tax in Ireland once I do sell my UK property during 2025, despite already being an Irish tax resident?
Or would I be exempt, as my UK property was my Principal Residence for the previous 27 or 28 years?
CGT in the UK in such a case would be 0%.

A simplified question would be: Are you exempt from CGT in Ireland if the property you're selling abroad was your Principal Residence.

Many thanks,

Peter
 
All the evidence I can find supports the answer to your simplified question being yes, as long as there is less than 12 months between you moving out of your PPR and selling it. (this grace period is designed for cases like yours) If the period at the end is longer than 12 months then it becomes a more complex pro-rata calculation. There is a revenue guide on this that's currently being updated S.604.

Again the evidence I can find treats this property in the UK exactly the same as if it were in Ireland.

Also if you bought the Irish house well before it became your PPR you will have a pro rata liability on the gain when/if you come to sell it.
 
If you move to Ireland there is a potential additional relief where your job required you to move up to a four year maximum.

As has been said @Farma1 you have the last 12 months in any event.
 
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