CGT and houses

G

gmac102

Guest
hello

Myself and my husband have separted 18 months ago. We have two proproies and I live in one and he lives in another.

I need to sell this house for some reasons.
Do I to pay gct on this house as my husband does not live in it? Is it ok for just me to live in it?
What is the progess that i go throught?

What is the cgt, If I have to pay for it?
The profit is 100,000 and if do I pay it on the entire amount of the house or just the profit?

Thanks for your help!
Cant figure out the government sites!!
 
Hi,

I am not too sure about the process of seperation with regard to CGT. Maybe it is classified as your principle private residence or maybe not.

CGT if you are liable depends on when the house was purchased. Using the relevant indexation figure, the difference between this and the selling price is the realisable gain which is liable for CGT @ 20% less your annual exemption of €1,270. You pay CGT on the gain not the entire selling price. Hopefully this helps you some bit.
 
gmac

It is subject to CGT unless it is exempt as a Principal Private Residence.

When did you acquire it?

Was it rented out and if so for how long?

How long have you occupied it?

Brendan
 
If you have lived in the house as your principal private residents then you can claim principal private residents relief ie no CGT due.
 
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