A friend of mine living in America has sold an investment property in Ireland. He wants to know does ne need to file an Irish Tax Return and if so where will the assessment be issued to as he has no Irish address?
Please tell me that his solicitor retained a sufficient sum of money to cover the (likely) CGT liability? And will continue to hold it until the Vendor has done the return and Revenue have agreed the liability?
My understanding is that the purchaser has deducted 15% of the consideration and hopefully passed this on to the Revenue. I presume the only way the Revenue can issue an assessment is when my friend makes a Return? (even though he is non resident)
Are you saying that the correct approach should have been for vendors solicitor to apply for tax clearance cert so that the purchaser could not then have withheld 15% of the proceeds? I presume the reason the purchaser deducted the 15% was because there was no tax clearance cert?