Own 1 House - Rented Out (can it be his PPR ?)

N

Niallymac

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A friend of mine living overseas asked me to clarify the following position

He has been living in the USA for 10 years, but bought a property in Ireland while he was resident abroad. With the exception of occassional between lettings stays in the property, it has been rented out full time. He himself has only ever rented in the US, never buying a property there.

He plans to sell the house, and reckons he can call it his PPR as he bought it to live in himself and has never owned another proerty. My view is that he will be liable for full CGT over the ten years, as it has been rented out for that period, and is therefore an investment property.

Any opinions ?
 
Seems to me too that it's an investment property. It certainly doesn't look like his PPR or that it qualifies for even partial PPR CGT relief. He should get independent, professional advice because his assumptions about this matter seem flawed to me.
 
He could also be liable for US taxes (e.g. capital taxes) depending on the nature of his residency/domicile/tax status.
 
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