Use of UK domicile to choose UK CGT on sale of shares

H

HeebyGeeby

Guest
I intend selling some Irish shares which will trigger a CGT liability.

I would be liable to pay 25% Irish CGT (ignoring allowances).

I'm British born, resident home owner here in Ireland for the past 17 years, left the UK when i was 25.
Since I don't intend remaining in Ireland, can I choose to be taxed according to my domicile of birth (UK) at 18% ?

The UK Revenue site seems to imply that I can.

The Irish Revenue site refers to the double taxation treaty and seems to clarify that, as an Irish resident, Ireland is where I pay my CGT.

he shall be deemed to be a resident of the Contracting State in which he has a permanent home available to him
Click to expand...
 
You are Irish resident and Irish ordinarily resident but UK domiciled. As you are selling Irish assets you will be liable to Irish Capital Gains Tax. If you were selling UK assets or Assets located anywhere else except Ireland, then you would not be liable to Irish CGT unless you remitted the proceeds to Ireland.
Kieran Coughlan
 
You must log in or register to reply here.
Back
Top