CGT on EU property UK resident

[paulbpmurphy]

I am selling a property in the Irish republic.

I am a UK resident.

I shall be paying CGT to the Irish tax authorities.

But do I need to alert the HMRC, and if so, how do I do this please?

Include the details in a standard tax return?

Many thanks in advance.

[wamstax]

Inevitably if you are resident in the UK you will be liable to CGT on any gains made on your property in the Republic of Ireland. However prior taxing rights will be with the Republic so that you would need to pay CGT in Ireland based on the gain you have made on the property subject to any gains or reliefs or exemptions.

However you will be able to set of the CGT you have to pay in the Republic off against your UK tax liability on the property gain up to the amount of UK tax liability on the same income. If the CGT rate is greater in Republic than the UK then there would be no tax liability to be paid in the UK but any excess will not be refundable by the . If however the UK tax liability exceeds the tax paid in Republic you would have a UK tax liability to meet when you declare it in your UK tax return.

[paulbpmurphy]

Thank you so much