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dky20012002
Guest
Hi everybody. This is my first time to post here so any help would be very much appreciated...
My question is about taxation and payment to Revenue.
We live in Ireland and my father and mother lived in the family home together for the past 30 years. We had a second property which was rented out until last year. My mum and dad seperated, with my father moving into the second property(this property was always registered in his name). He is now thinking of re-locating to the UK. My question is this:
If he sells the property he now lives in(which was originally the second property) would he have to pay tax on it as a second property or would this be classed as his main residence? He has lived there for the past approx 12 months on his own. My mum still lives in the original home(which is registered in her name).
Any help would be much appreciated as the circumstances are quite upsetting and I do not want to worry him un-necessarily.
My question is about taxation and payment to Revenue.
We live in Ireland and my father and mother lived in the family home together for the past 30 years. We had a second property which was rented out until last year. My mum and dad seperated, with my father moving into the second property(this property was always registered in his name). He is now thinking of re-locating to the UK. My question is this:
If he sells the property he now lives in(which was originally the second property) would he have to pay tax on it as a second property or would this be classed as his main residence? He has lived there for the past approx 12 months on his own. My mum still lives in the original home(which is registered in her name).
Any help would be much appreciated as the circumstances are quite upsetting and I do not want to worry him un-necessarily.