Is there tax on the transfer of house sale preceeds from Newry to Dundalk?

S

salmon2

Guest
I live in Newry and wish to sell my house in order to move to and purchase a house in Dundalk, in order to be closer to family members. The house I purchase in Dundalk would then become my principal residence and would not be rented out or used for commercial activities.

When I sell my house in Newry (which has always been my primary residence and was never rented out or used for any commercial activities) I will then have to send the proceeds of the house sale by bank transfer from my bank account in Newry to Dundalk.

I presume I simply send by bank transfer direct to the solicitor dealing with my purchase in Dundalk.

I realise there is stamp duty on the purchase of the house in Dundalk, but what I'm wondering is if there is any form of tax (in the Republic) on the finance which I will transfer from from the sale of my house in Newry?

Maybe some sort of tax on the bringing of capital into the country from another country. I don't think there is, but just thought I would ask.
 
There are no tax implications involved if the facts you are stating are correct - you probably get the bonus of being a firtst time buyer and avoiding stamp duty
 
Thanks Rhino - I didn't think there were any tax implcations of the transfer of proceeds from the sale in NI to the ROI. Just thought I would ask.

I don't think though I would qualify for the FTB stamp duty as I think that applies only to someone who has never purchased a house anywhere.
 
You should qualify for the FTB stamp duty - it is if you are a first time buyer in the State. If you are buying down here your solicitor confirm
 
Wooooaaaaaahh there cowboys! Wolfspeed/Rhino, your comments are undoubtedly well intentioned but they are wrong.

From Revenue

Who is a First Time Buyer?

A First Time Buyer is a person, (or, where there is more than one buyer, each of such persons):

 who has not on any previous occasion, either individually or jointly, purchased or built on his/her own behalf a house (in Ireland or abroad) and


Not a FTB.

mf
 
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