Non resident selling Irish property

L

Liamos

Registered User
Messages
127
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?

mf
 
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)
 
Vendors solicitor is an agent for your friend - Revenue can and will happily chase them for any difference on what is owed and what is due.

Solicitor was a sucker not to withhold funds. I hope your friend does the decent thing, does the return and pays any balance due.

mf
 
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?
 
Yes.

That was one very foolish vendors solicitor who clearly has no grasp of his legal responsibilities to Revenue.

mf
 
You must log in or register to reply here.
Back
Top