Hi
Paddy is a UK resident and is selling some land in Ireland. The gain since purchase 4 years ago will be circa £400k. Does anyone know the process regarding the Tax Clearance Certificate CG50a, and also whether Paddy pays his CGT in the UK first, then offsets in Ireland or vice-versa?
This is the reason for asking: According to the Revenue.ie website, he can only get the CG50a if resident (not), if there's no CGT liable (it is) or if CGT is fully paid - so how does he do this if he's non-resident and availing of the Double Taxation rules?
Paddy does not want the other alternative, which is for the purchaser to withhold 15% of the purchase price, then Paddy reclaims.
Can anyone help?
regards
Paddy
Paddy is a UK resident and is selling some land in Ireland. The gain since purchase 4 years ago will be circa £400k. Does anyone know the process regarding the Tax Clearance Certificate CG50a, and also whether Paddy pays his CGT in the UK first, then offsets in Ireland or vice-versa?
This is the reason for asking: According to the Revenue.ie website, he can only get the CG50a if resident (not), if there's no CGT liable (it is) or if CGT is fully paid - so how does he do this if he's non-resident and availing of the Double Taxation rules?
Paddy does not want the other alternative, which is for the purchaser to withhold 15% of the purchase price, then Paddy reclaims.
Can anyone help?
regards
Paddy