CGT on non primary principal residence

F

Finlandia

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If you are selling a house that has been rented out but you did not buy another house but actually renting yourself would the house you ate selling be classed as your PPR and therefore would you be exempt from paying CGT
 
No. However, it may be possible to have a proportion of a CGT liability offset under PPR relief if you have lived in the house for a period of time.
 
Hi,

can you give the date of purchase and purchase price?

My understanding is that the property may be indexed to account for inflation as it was purchased before 2004.

Leaving indexation aside as you have owned the property for 18 years of which it was your PPR for 13 you are only liable for CGT on a pro rata basis.

e.g. you have a CGT liability of €10,000 if it was just an investment property. As it was your PPR for 13 of the 18 years you will only have to pay €2,778 (€10,000*(5/18)).

You also have an annual CGT exemption on the first €1,270 which can be used if you have not offset it against any other gains this year.
 
Last edited:
Hi

House was both in 1999 for €127K lived in for 13 of the 18 years (rented for the last 5 years)

thanks
 
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