Would Capital Gains Tax be Due, when sold, if I Purchased House...?

zoe

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I'm living in Northern Ireland, and I own no property at all. I'm living at my mums.

If I purchased a house in the republic, with the intention of moving to it permanently at some point in the future, would capital gains tax be due if and when I sold it?

If and when I sold it I would be resident in the house and so tax resident in the republic and it would be my main, and only, residence.

But there would have been maybe a few years when I first purchase it when I was not permanently resident in it. At no point would the house be rented out.

Thanks for any advice
 
This thread might be of interest to you. If you don't buy as an owner occupier then investor rates of stamp duty may also apply. Would the property really be sitting idle for several years? That would be a bit of a waste and you may have trouble getting insurance.
 
Thanks - I'll check that thread now.

I don't think there should be a problem with the insurance as there are companies who will insure. Regarding the stamp duty, if I bought a house it would be 2nd hand and would have to be under the €127,000 threshold (as I wouldn't be able to afford above it) so I believe stamp duty would not apply anyhow.

ClubMan said:
Would the property really be sitting idle for several years?
Possibly, just wanted to find out about the capital gains issue if it did.
 
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