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Capital Gains on Foriegn property

  • 14-08-2013 4:06pm
    #1
    Gasherbraun
    Registered Users, Registered Users 2 Posts: 312 ✭✭


    I wonder if someone has any experience of the following. Revenue have told me verbally, without any real background info, that I have no liability but the answer seems too easy. Basic facts are -

    We (I am English, my wife Irish if it is relevant) own a property in the UK that is rented out all in accordance with mortgage and UK tax liabilities. It has been rented for approximately six years and we have been resident in Ireland for the same period.

    It is the only property we own - have owneed it for 12 years - and we have rented in Ireland since we moved here

    We think we have got clear clarification from UK Revenue that we have no liability there if we sell the property.

    So the question is will we fall liable for capital gains if we bring the money made on the sale into Ireland?

    Any info would be gratefully received; The idea of selling now is to buy in Ireland but this is not feasible if we get hammered for CGT and to be honest if CGT is due I would just rather leave an appreciating asset alone.

    Thanks


Comments

  • #2
    Mongarra
    Registered Users, Registered Users 2 Posts: 1,119 ✭✭✭Mongarra


    As far as I know questions on CGT are not allowed on Boards and I was barred/suspended for answering one a couple of years back. Sorry if I'm wrong but maybe a Mod will pick up on this.


  • #3
    Gasherbraun
    Registered Users, Registered Users 2 Posts: 312 ✭✭Gasherbraun


    Mongarra wrote: »
    As far as I know questions on CGT are not allowed on Boards and I was barred/suspended for answering one a couple of years back. Sorry if I'm wrong but maybe a Mod will pick up on this.

    Ok thanks for the info. I will just have to keep trying to get a written answer from Revenue.


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