CGT Non-resident vendor

fergie bxl

Hello,

I’m a non resident vendor, just gone sale agreed on house in Ireland. My solicitor has asked me to respond to Requisition Non resident vendor as follows:to confirm that I’m in compliance.

a) confirm that no direction has been served by the Rev. Commissioners under Section 644 (2) of the Taxes Consolidation Act 1997.

I have no idea what this means. The property was rented until last year and all taxes paid.

can anyone shed some light?

Many thanks in advance.

3DataModem

The purpose of that section of that act is to require parties to a property transaction with a non-resident to withhold some of the payment to the non-resident, to reduce the risk of not collecting amounts owed (e.g. CGT).

E.g. if you owed some CGT on this Irish property, then this act enables the solicitor to withhold some of the money from the sale and give it to revenue, then you as the non-resident have to ask for it back by demonstrating you don't owe it.

The easiest way to do this is contact the revenue commissioners, providing name, address(es), and any local tax reference number in your country… and ask the revenue to confirm that they have not served you any direction under the above act.

However it might be acceptable for you to simply affirm this in writing to your solicitor yourself.

fergie bxl

That’s very helpful. Thank you so much!