Reporting sale of Principal Private Residence to Revenue

browne_rob5 · 17-09-2020 11:13am #1

Hi All,

If you sell your Principal Private Residence and are entitled to a full exemption to CGT do you need to report this to Revenue and which form should you use. Sale was in 2019 and only source of income is through PAYE.

Many thanks in advance.

Calahonda52 · 17-09-2020 11:30am

Any asset disposal requires a return.
Are you on ros or my account?

browne_rob5 · 17-09-2020 11:32am

Calahonda52 wrote: »

Any asset disposal requires a return.
Are you on ros or my account?

Thanks for the reply.

I am on my account.

Calahonda52 · 17-09-2020 2:02pm

browne_rob5 wrote: »

Thanks for the reply.

I am on my account.

I don't use my account so cant help, am on ros

see here
https://www.revenue.ie/en/gains-gifts-and-inheritance/transfering-an-asset/when-and-how-do-you-pay-and-file-cgt.aspx

browne_rob5 · 17-09-2020 2:10pm

Calahonda52 wrote: »

I don't use my account so cant help, am on ros
see here
https://www.revenue.ie/en/gains-gifts-and-inheritance/transfering-an-asset/when-and-how-do-you-pay-and-file-cgt.aspx

Cheers I have been looking on my account and can't see an option for submitting a CGT return. I think I will have to send in a Form CG1 by post based on the advice in your link.

Calahonda52 · 17-09-2020 2:13pm

no, you can register for cgt inside my account if i read it correctly

browne_rob5 · 17-09-2020 2:26pm

Calahonda52 wrote: »

no, you can register for cgt inside my account if i read it correctly

I can only see an option to register for Income tax. Will go ahead and submit the paper return I think.

relax carry on · 17-09-2020 7:05pm

Calahonda52 wrote: »

They may not accept its as you don't have an exemption not to do online

Registering for CGT
If you have a tax registration number, send a request to be registered for CGT through MyEnquiries to your regional registration office.

PAYE only taxpayers cannot file an E CGT return. They have to file a paper form by either physically posting it or scanning the completed form to Revenue via MyEnquiries in MyAccount.

Geuze · 17-09-2020 11:49pm

browne_rob5 wrote: »

Hi All,

If you sell your Principal Private Residence and are entitled to a full exemption to CGT do you need to report this to Revenue and which form should you use. Sale was in 2019 and only source of income is through PAYE.

Many thanks in advance.

You don't have to report the sale of your PPR.

No CGT on PPR.

browne_rob5 · 18-09-2020 9:03am

Geuze wrote: »

You don't have to report the sale of your PPR.

No CGT on PPR.

https://www.revenue.ie/en/property/selling-a-house/index.aspx#:~:text=Principal%20Private%20Residence%20(PPR)%20Relief&text=Where%20you%20are%20entitled%20to,the%20sale%20of%20your%20house.&text=You%20must%20still%20send%20a,not%20have%20to%20pay%20CGT.

There is no liability but according to the above link you still need to file a return and claim the exemption.

Geuze · 20-09-2020 9:43pm

Interesting.

That is news to me.

Reporting sale of Principal Private Residence to Revenue

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