Principal Private Residence Proof

Ronney

Has anyone had too prove their Principal Private Residence for Revenue?
If so what do they look for as proof.

My brother and I just inherited our family home. To avoid tax we need to show it was our primary residence for 3 years up to the date of inheritance.

For part of this 3 years my brother was min college and living in a different city. How does this effect things?
Also he was then travelling for 6 months what effect would this have?

Lockedout2

What age is he?

Did he come home every week while in college?

Consult a tax advisor to see if your brother kept this house as his PPR depending on how often he came home may answer that question.

Heisenburg81

Lockedout2 wrote: »

What age is he?

Did he come home every week while in college?

Consult a tax advisor to see if your brother kept this house as his PPR depending on how often he came home may answer that question.

I thought CAT dwelling house relief was severely curtailed last fin act. Must have been living there full time in last 3 years solely because of the parents mental or physical infirmity.
When was the grant of probate issued?
If you have not recieved prior inheritences or gifts from parents you can both recieve an inheritence value of €310,000 tax free.

Ronney

Thanks for the replies

Brother is 25, Would have only been home once a month at best. Would have spent Christmas etc in the house.

Would have spent a lot more days not in the house than in the house. (Similar to a child in boarding school...would the school count as his primary residence?)


Date of death was before the last Budget so slightly reduced value for the tax free amount.
Probate hasn't been taken out yet. (Happening soon)

To sum things up
Estate is House €600,000
Other €60,000

Split 50/50, I should qualify for the dwelling house relief as have lived there all my life.

Brother if he qualifies Tax Bill is Nil
If not his Share is €330,0000 less allowance €280,000 = €50,000 @ 33% =€16,500

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Is the house being sold? Was the house valued at 600k or is that your own estimate?

Ronney

Dont plan on selling the house at the moment. We are both in our 20's and would be happier to live there for the immediate future. Neither of are married yet and would have been nowhere near able to afford to buy somewhere prior to this.
Location suits us both for work etc.

Valuation was done by an estate agent for the probate application

Lockedout2

Ronney wrote: »

Would have spent a lot more days not in the house than in the house. (Similar to a child in boarding school...would the school count as his primary residence?)

There is in my view a fundamental difference between a kid in boarding school and a 25 year old in college.

No doubt that the kid has his home as a PPR, the 25 year old could have left home at 18 and lived away for 7 years returning occasionally.

A tax consultant is your best bet.

Mrs OBumble

Ronney wrote: »

Thanks for the replies

Brother is 25, Would have only been home once a month at best. Would have spent Christmas etc in the house.

Would have spent a lot more days not in the house than in the house. (Similar to a child in boarding school...would the school count as his primary residence?)

I think you are taking the p*ss to even think that he might qualify.

It's very clear that he lived elsewhere.

Heisenburg81

Mrs OBumble wrote: »

I think you are taking the p*ss to even think that he might qualify.

It's very clear that he lived elsewhere.

Indeed. Must be sole or main residence to qualify under the old rules. New rules as I stated above very restricted.

Lockedout2

I would normally consider someone in college to live at home where they return each weekend and for summer holidays.