CGT on Share sales for non resident

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allenk

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Hi all, I have been a non resident of Ireland for the past 9 years. Since 2012 I have built up a small share portfolio in Irish banks, British oil and gas/mining companies etc.

I believe I will need to pay tax on gains from the Irish companies but not companies outside of Ireland. Is this correct?

Do I need to register myself in some shape or form to avoid paying tax?

I have recently taken out a mortgage and bought a house for when I return to Ireland, the house is being rented at present. Will this have an impact on the CGT of the share gains?

Thanks in advance.
 
The only CGT you will have sale of shares is if the shares derive the greater part of their value from Irish land. If you have bought standard quoted shares, which it sounds like, then you shouldn't have any Irish CGT. The only matter, on which I'm not sure, is if you have bought shares in an Irish REIT - I'm not sure if CGT applies there.
Your forthcoming return to Ireland won't have any issue on the your CGT treatment - you are still non-resident and non-ordinary resident.
 
If you return to Ireland and become ordinarily resident, which sounds like it will be the case, then all capital gains on shares sales after you become ordinarily resident will be taxable in Ireland. If you sell the shares before returning then no tax is payable in Ireland as you are more than likely classed as non-resident after 9 years abroad

But tax may be due in your current country on any sales prior to returning, of course, and perhaps even after returning depending on the tax residency rules in your current abode
 
Thanks for the positive feedback and advice.

I'm in Qatar so I'm sure it will be tax free from here.

I have a handful of Hibernia REIT shares but I'm not too worried about those as the value is small.

I was thinking of going down the 4 week B&B route with the shares to offset some gains but looks like its not needed :)
 
Remember, the gain if you sell is the sale price minus the cost price and no allowance is made for being out of Ireland, so if you have a substantial gain it would be worth your while to sell them before returning
 
I totally agree with all of the above comments. I was working on the basis that you sell your shares before you become Irish resident again. The rebaseing of the cost (sell and buy again) also work subject to the four week B&B rule.
 
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