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Principle Private Residence Relief Question

  • 04-11-2011 4:11pm
    #1
    bgh
    Closed Accounts Posts: 6 ✭


    Hi All,

    I have a CGT question that Id be grateful for some feedback on.

    A friend who has lived and worked in France for the last 30years is about to move home to Ireland so at the moment he is neither resident nor ordinarily resident in Ireland.

    He will sell his house which he has lived in since the day he bought it and will bring the sale proceeds home to Ireland. It is likely that the house will be sold in March 12 and he will also move home in March 12 and become Irish resident but not ordinarily resident for the tax year 12.

    Under CGT law he will be liable to CGT on the house as it will be sold in a year in which he is Irish Resident.

    So my question is, can you get PPR relief on a foreign residence. As the problem will be that he will be exempt from French tax so will have no tax to offset under the Double Taxation Agreement.


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