Capital Gains Tax and residency...

[marathonic]

If someone built a portfolio of shares over a number of years as an Irish resident but didn't sell any until after moving permanently to the UK, would they be liable to any Irish CGT?


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[joe sod]

I dont know the answer to this but I am also wondering how this is treated?

 

[3CC]

Hi chaps. I am just wondering if either of you ever found an answer to this question?

Thanks,

3CC

 

[Joe_90]

Well are you still ordinary resident in Ireland.

Do the shares derive the greater part of their value from Irish land?

http://www.revenue.ie/en/tax/cgt/leaflets/cgt1.pdf

 

[3CC]

I'm sorry Joe, I am not sure I follow your response. I am ordinary resident in Ireland but may be moving to the UK. The shares I have are ETF's and are not related to Irish property.

I was just wondering if you ever learned anything further about the CGT implications of moving to the UK.

Many Thanks,

3CC

 

[Marc]

ETFs are typically subject to exit tax in Ireland but CGT in the UK.

If you are tax resident in Ireland you will remain ordinarily resident for three years after leaving Ireland and so exit tax would still technically apply during this period.

However once you are resident and ordinarily resident in the UK the you would be subject to UK capital gains tax which has a generous annual exemption of £10,900 per tax year.