Moving Back to Ireland - Selling UK property

M

Mmike5

Guest
Hi,

I was wondering whether anyone could be of assistance or provide any direction. I am an Irish citizen relocating to Ireland. I have decided to sell my UK property and move home. I am putting the house on the UK market but will move back immediately as I start a job soon.

Will I be liable for any tax due to the sale of the property? CGT or anything else?

thanks,

Michael
 
Welcome to AAM Mike5.

If your UK property if your principal private residence as far as I know the same rules apply and it's exempt for CGT.
 
I think you have up to a year to sell your residance before its subject to cgt but it should only be subject to cgt from the time it ceased being you primary residence to when you sell it.

Worthwhile contacting the revenue as they shoudl streatch the year if on the market
 
Hi,

thanks for the responses. The place I am selling is my only residence in the UK and the revenue here do not charge CGT (or any other tax) if selling your main residence. As I do not own any other property in UK, once the sale is complete it would then be a case of transferring my 'savings' from my UK account to my Irish one,

thanks again, Mike
 
Mike,

Also check out dedicated FX transfer companies like HIFX (no connection)
if and when you do decide to sell 1% difference in fx in a house sale can
be a big deal

best of luck
rb
 
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