Sales of shares whilst living abroad

cherrytaz

Hi

I purchased a number of shares in February 2016 and then emigrated to the UAE in August 2016 where I have lived since (still living here). I am selling these shares and the total profit would be approximately 1000 Euro i.e. less than the 1270 limit.

Question: As I have lived outside Ireland for more than 2 years in a tax free environment (UAE), do I need to declare the above as am I non-resident for tax purposes and the majority of the gain was realized whilst living in the UAE.

Thanks

dogsears

Technically you are still within charge as you are not yet "not ordinarily resident". That takes 3 years after you cease to be resident. (I've assumed you were resident here for several years before going to UAE). If you didn't have any other disposals that would take you over the 1270 exemption (it is available to non-residents) there will be no tax payable.

If you've plenty of time go ahead and file a CGT return. If not I wouldn't sweat it and don't think Revenue would have a problem.

cherrytaz

Great thanks for the reply. Do I submit CGT returns on ROS.ie?

dogsears

Seems to me the appropriate form for you to use is this - CG1 - which I believe cannot be filed online, only by post.