Selling Uk Property cause Irish CGT Liability

Micheal Smith

Registered User
Messages
5
I'm currently moving back to Ireland from the UK but have not sold my UK home yet. I'm not liable for any Capital Gains Tax in the UK for 18 months from moving out as its been my home.

What are my Irish tax liabilities? Do I need to have the house sold before I move to Ireland to not incur Irish CGT or is there a grace period?

Thanks,

Micheal
 

T McGibney

Frequent Poster
Messages
3,555
Oh you can do whatever you wish. If you sell within 12 months, the sale should be fully CGT-exempt. If you sell later, there will be some element of liability, calculated on a time-apportioned basis.
 

Micheal Smith

Registered User
Messages
5
Oh you can do whatever you wish. If you sell within 12 months, the sale should be fully CGT-exempt. If you sell later, there will be some element of liability, calculated on a time-apportioned basis.
So if we've owned it in uk for nine years, move home to Ireland for a year and then sell it (say 15 month later) for a 200k profit - that would mean UK CGT of zero and Irish of 3 months / 123 x 200k x 33%?
 

T McGibney

Frequent Poster
Messages
3,555
So if we've owned it in uk for nine years, move home to Ireland for a year and then sell it (say 15 month later) for a 200k profit - that would mean UK CGT of zero and Irish of 3 months / 123 x 200k x 33%?
Yeah that should be roughly correct. If you're sitting on a potential gain of that magnitude I recommend you get specific professional advice to ensure we're not missing something here.
 
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