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Capital Gains Tax Query on Property

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  • 27-09-2020 10:42am
    #1
    Dantara
    Registered Users Posts: 2 ✭


    I am about to complete on the sale of a property early this coming week that I have in Ireland at €72,000. I am not resident and live in the UK. Based on calculations, there is no capital gains tax to pay. However, our Irish Solicitor informs me that I must complete a CG1 form and send it to them prior to any funds being released.

    I have looked at the revenue.ie site and it only holds a 2019 form.

    Can I please seek some guidance on what form I must complete and must the filling out of the form be approved by the revenue.ie before sending to my solicitor before any funds can be released?
    Tagged:


Comments

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    #2
    Calahonda52
    Registered Users Posts: 12,194 ✭✭✭✭Calahonda52


    as the 2019 form is not bar coded, you could print off the 2019 and just change the 19 to 20

    “I can’t pay my staff or mortgage with instagram likes”.



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    #3
    Dantara
    Registered Users Posts: 2 ✭Dantara


    Thanks Calahonda52 that was the only thought that I had. I wonder though do I need to have it approved and accepted by Revenue.ie before presenting to my solicitor?


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    #4
    Calahonda52
    Registered Users Posts: 12,194 ✭✭✭✭Calahonda52


    Dantara wrote: »
    Thanks Calahonda52 that was the only thought that I had. I wonder though do I need to have it approved and accepted by Revenue.ie before presenting to my solicitor?

    I don't know

    “I can’t pay my staff or mortgage with instagram likes”.



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    #5
    1991hun
    Registered Users Posts: 6 ✭1991hun


    Hi Dantara

    I recommend that you submit the Form CG1 and send proof of submission to your solicitor. That should suffice considering there is no CGT to actually discharge.


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