CGT on PPR

Corola said:
Yes, you will become a 'chargeable person' if you submit a Form 11/Self-assessment return for any reason.

A person is not a 'chargeable person' if their unearned income is less than €5,000 and this income is taxed under the PAYE system (Form 12/myAccount).

People aged under 16 and over 70 are exempt from PRSI and are not liable for the charge.
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Good to know. I'm in this position for 2025 (previously was chargeable for 2024 but no longer in scope but haven't deregistered). If I remember I'll report back on whether this is auto-applied in the Form 11 even after I've ticked that I'm only voluntarily filing Form 11 for 2025.
 
Villaines said:
but haven't deregistered). If I remember I'll report back on whether this is auto-applied in the Form 11 even after I've ticked that I'm only voluntarily filing Form 11 for 2025.
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Why don't you deregister once you no longer need to be self assessed? Surely that's simpler?

Who should register for Income Tax self-assessment?

This page outlines who should register for Income Tax self-assessment
www.revenue.ie www.revenue.ie
You can de-register for Income Tax self-assessment by filling out a TRCN1 Form.

To de-register for Income Tax self-assessment on the Revenue Online Service (ROS), you need to:
...
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I'm in the opposite position - have to register for self-assessment from 2025 because I have > €5K non-PAYE income and I'm dreading it based on my only other nightmare experience with self-assessment years ago (due to ESOP/ESPP income)... :eek::D Still trying to figure out how to do it as the "Register for income tax [self-assessment]" option on myAccount says "ceased" and doesn't have any option to (re-)register and I don't know if I can just fill in a TR1 form and upload it to myEnquiries? I've asked them via MyEnquiries to advise...
 
Does any one know if the CGT exemption on a PPR can be applied a second time?

This will be the case when you have sold your home and bought a second one that becomes your PPR and then years later you sell this one too. Is the second house exempt from CGT?
 
Important to note that "individualisation" does not apply to Joint Assessment. So if you are separately assessed for income tax you become a "chargeable person" if non PAYE income exceeds €5000 per annum. But if you are jointly assessed the limit is still €5000!! Surely this is a disadvantage of Joint Assessment as the PRSI rate is higher as you have complete Form 11 v Form 12. Possibly a case for Separate Assessment and reverting to Form 12??
 
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