I purchased an investment property in 2013, and sold it in 2021 making a gain. (it was never my PPR). There was an incentive back then where if you purchased a house and kept it for 7 years before selling, you’d be exempt from CGT.
When the proceeds of a house sale land in your account, does this trigger anything with the Revenue? Apart from having my annual tax returns submitted as normal, Is there anything that should be done to keep the taxman onside?
CGT is a self assessed tax so it's up to the taxpayer to pay and file in line with the rules. The funds being lodged to your account will not trigger any Revenue curiosity but your bank may ask about it under money laundering legislation.
Capital Gains Tax is charged on the capital gain or profit made on the disposal of an asset. Some assets are exempt from Capital Gains Tax. Find out if you are liable for Capital Gains Tax and how to pay it..