Tax on UK Capital gains after moving to Ireland

coming to ireland

Hi,

I am planning to move to Ireland in January and will be closing my UK business down around the same time.

I will be receiving a capital gain when closing the company which will be eligible for 'Entrepreneur’s Relief' in the UK (so I pay just 10% tax).

Does anyone know if I will have to pay an additional Irish tax on this as I will recieve this income just after I have moved to Ireland?

Many thanks

Neil

nompere

You really need professional advice.

In principle, if you make a gain on a UK asset when you are resident in Ireland you pay tax at 33% on the gain, less a credit for any tax that you might pay in the UK.

Interesting concepts like domicile and remittances may come into the equation as well, so you need to talk to someone who understands all these things.

glued

coming to ireland wrote: »

Hi,

I am planning to move to Ireland in January and will be closing my UK business down around the same time.

I will be receiving a capital gain when closing the company which will be eligible for 'Entrepreneur’s Relief' in the UK (so I pay just 10% tax).

Does anyone know if I will have to pay an additional Irish tax on this as I will recieve this income just after I have moved to Ireland?

Many thanks

Neil

As you're planning on moving here in January then you will be deemed resident and therefore will be required to declare all your earnings to the state for this tax year. However, your situation is rather unique and I'm not sure what reliefs, if any, that you may be entitled to.

coming to ireland

Thanks for your advice. The simplest thing might be to wait until I have have closed the company before formally moving to Ireland. I may just visit a few time January to attend interviews.