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Help! Accidental Landlord - Capital Gains Tax on Sale

Lifestyle A · 2014-05-14 12:34:12

Hello, I became an accidental Landlord of an apartment 3 years ago when I moved abroad. I find that it is a lot of hassel and the cost of the mortgage and management fees means I am not covering everything with the rent and I want to sell it. I read somewhere that I would be liable for capital gains tax. Does anyone know…

14-05-2014 12:34pm

#1

Lifestyle A

Registered Users, Registered Users 2 Posts: 1 ✭

Join Date: May 2014

Posts: 0

Hello,

I became an accidental Landlord of an apartment 3 years ago when I moved abroad. I find that it is a lot of hassel and the cost of the mortgage and management fees means I am not covering everything with the rent and I want to sell it. I read somewhere that I would be liable for capital gains tax. Does anyone know what the rate is and what it is based on? If I sold the flat for 190,000 would I pay tax on this or if I made a profit? I am a bit confused.
Also can I write off anything against this? Thanks, the tax office people just confused me even more!
(PS: I didn't pay stamp duty)

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Comments

#2 14-05-2014 6:54pm

Mr. Incognito

Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭

Join Date: March 2007

Posts: 9552

Read the charter.

Seek professional advice

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