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Where Taxpayers and Advisers Meet

Moving to Ireland with £80k equity

SteveFE
Posts:2
Joined:Wed Aug 06, 2008 3:03 pm

Postby SteveFE » Mon Apr 28, 2003 2:41 am

I've just sold my house in Kent and expect to have around £80k equity left over after expenses. I plan to move to Ireland in July and am meanwhile renting accommodation. Is the £80k liable for CGT, and should I expect problems moving the money to Ireland (to invest in a home there). It's not practical to move immediately (wife and I both need to finish up at work and children need to complete school years).

Many thanks for any advice.

demetris
Posts:95
Joined:Wed Aug 06, 2008 2:18 pm

Postby demetris » Mon Apr 28, 2003 5:32 am

You need not worry about CGT if the house was your principal private residence, ie you used to live in it. There should be no problem to moving the proceeds to Ireland as free movement of capital is permitted within EU.

Demetris Savva BA FCCA
http://www.tax-accounting-london.info

SteveFE
Posts:2
Joined:Wed Aug 06, 2008 3:03 pm

Postby SteveFE » Tue Apr 29, 2003 1:03 am

Thanks for that Demetris. It's not always easy to get simple info from Inland Revenue's website.


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