CGT on second home in Ireland

[Emerald]

Hi,

Please can anyone answer this question for me?

My husband and I jointly own our home in the UK. I am a non-tax payer. If I were to buy a second home in the Republic of Ireland, in my sole name, would I have to pay CGT if I sold it?

Thanks.

[Simon Sweetman]

Yes. UK residents pay CGT on all disposals, wherever situated. But you may also have to pay CGT in Ireland, and Ireland may have the primary right to tax.

[Emerald]

Ah, thanks very much for your reply; I hadn't even thought of that.

[funcrusherbill]

The exact position could depend on your previous connections with ireland and your subsequent movements / residence, inc how long you spend in each year in the two countries. An added complication is that the tax year is Jan to Dec in Ireland (ie the calendar year)

In principle a UK resident with no prior irish history would pay 20% irish CGT on an Irish property sale, but this would offset UK CGT. HOWEVER, if you only have one house in Ireland, I wonder if the Irish would grant you PPR relief? (Like UK, no CGT on sale of own home) I think they might, providing you don't let it. It should be easy to find out via any decent Irish estate agent I should think.