CGT - Returning home after selling UK property

PatMustard99

Hi

I am an Irish citizen, who has not lived in Ireland for 10 years. I bought a house in the U.K. with my British partner in 2015. We lived in it as our main PPR for 2 years and then moved to Australia in 2017. We rented the house when we moved to Australia and then sold our U.K. house from Australia in 2020. There is no CGT due in both the U.K. and Australia. We have received tax advice on this.

We are contemplating moving back to Ireland with our children in 2020 and would also like to remit the profit from the sale from our U.K. account to an Irish account, as well as our savings in both Australia and the U.K.

I believe I am not resident, nor ordinarily resident as of yet, am not quite sure about my domicile status. Would we be liable for CGT on the sale of our U.K. property if we came back to Ireland in 2020, the same tax year as the CGT event ? Would this still be the case if we came to Ireland after the 1st July 2020 i.e. less than half of the Irish tax year ? If we delayed the move until 2021 would this help further to reduce any potential CGT liability, would we be even be required to disclose it then ?

Thanks

Calahonda52

As you probably know, opening a bank account here remotely will be fun.

dogsears

Potentially yes but if you don't become resident, no.

If you don't spend any time in Ireland until after 1 July it won't be possible to spend 183 days in Ireland in 2020 so you won't become resident.

Note that if you come back before then and do accumulate 183 days in Ireland during 2020 you will be liable to tax on that sale.

I've assumed you spent no days in Ireland during 2019. Speak up if that's not accurate pls?

I've not checked the Ireland-Australia Double Taxation Treaty but I don't feel it will make any difference given the property is in the UK.

PatMustard99

We didn't spend any day's in Ireland in 2020 or 2019, but we did spend a week or so there on holiday in 2018