When does your new home technically become your primary residence?

M

McGinty

Guest
Greetings

I bought a house (2nd hand) at the end of last June but did not move into it until August. I then rented out my old house.

With reference to calculating CGT and the 12 month grace period, when do I have to sell the old house by - June or August - so that I do not have to pay CGT? If August, do I have to prove that we did not move into the house until August? How?

So many questions ...

Cheers

McGinty
 
I would assume that your 12 month CGT "grace" period starts in August. Maybe your solicitor can tell you for sure?

I presume you know about the stamp duty clawback that applies when renting out a former PPR within 5 years of purchase just in case that applies in your case?
 
Thanks Clubman. Luckily enough I was there 8 years.
Although the tax man was kind enough to charge me €31,500 in stamp duty to purchase my current home. Each time I mention it I start to cry, so the last thing I want to do is pay extra in CGT.
 
You must log in or register to reply here.
Back
Top