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Selling a house I just bought (CGT?)

  • 07-11-2022 11:38am
    #1
    Cox
    Registered Users, Registered Users 2 Posts: 22 ✭


    I just bought a house in August and then received a job offer on the other side of the country and so I need to sell again and move. However I believe you have to hold the house for 1-2 years or else you end up paying Capital Gains Tax. I'm finding it impossible to get anyone in Revenue to give me an answer. Does anyone know how the law currently stands? Thank you



Comments

  • #2
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    There is no requirement to "hold the house for 1-2 years" for PPR relief. Principal Private Residence (PPR) Relief (revenue.ie)



  • #3
    rob316
    Registered Users, Registered Users 2 Posts: 18,418 ✭✭✭✭rob316


    If its your principal residence then no CGT due. If you bought the house with Help to Buy then you need to pay that back.



  • #4
    Cox
    Registered Users, Registered Users 2 Posts: 22 ✭Cox


    Thank you both, that was very helpful. Very hard to contact revenue to get a definitive answer on this (or anything).



  • #5
    walterking
    Registered Users, Registered Users 2 Posts: 1,297 ✭✭✭walterking


    It also has hardly gone up in value since august and you can deduct all purchasing and selling costs against any increase (legal fees, stamp duty, estate agent fees - probably in excess of 10k all in)

    So even if it was not your PPR, any cgt would be minimal if at all


    Revenue are not great on the phone, but really good on email if you need a response.



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