CGT in the UK or here

M

MARYBO

Guest
I have a property in the UK that i am in the process of selling. I bought it in 1996 and moved back to Ireland in Dec 2006, I rented it out for 3 yrs and for the last year it has been empty as the last tenant did a lot of damage. I have been paying tax on the rental income in the UK but am not sure if I will be liable for the CGT (if any) in the UK or if revenue here will be trying to grab it! I intend to leave the majority of the money from the sale in my account in the UK and draw down on it as and when I need it as I am in the process of trying to build a new house in Ireland. Any advice gratefully received!
 
If you are resident here you are liable for tax here and will get a credit for the tax you pay in the UK.

I would suggest you engage an accountant to help with the computation and submissions.

Particularly so as the UK rental income should have been included on an Irish tax return for the last number of years if you ve been resident here (as suggested by your post).

If you click on my username you ll find my bosses practice, we might be convenient for you.