CGT- moving on tax free

D

dublin14

Guest
Im thinking of selling my own privite residence CGT free, and building a new house. How long do I have to live in the new house to move on again CGT free?
 
AFAIK (though I'm not an expert), there is no minimum period that you have to live there. Once you are not living anywhere else at that time, the new house is your PPR and you won't get hit for CGT when you sell.

I did hear unsubstantiated stories of families who build a new house every 3-5 years and move in/out of the new house to avoid CGT. The pain/cost of moving house would be a big detterent for me. There is also the possibility that Revenue could deem you to be carrying out a 'trade' if you did this a number of times and hit you for income tax on the profits.
 
Thanks rainyday.
That answers the main query. I suspect the revenue would see it as trading business if one was mad enough to keep doing it ad finitum. However, the men in white coats would probably have taken you away by then!
Thanks again.
 
Note that if you are doing this for real, get professional advice to confirm/deny my view or the view of others here on AAM. Don't skimp a few hundred quid for advice to find yourself facing a tax bill of tens of thousands down the road.
 
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