Capital Gains Tax on Shares Bought in UK

[Bagman]

Hi all,
I have some shares I bought when working in the UK, still held by a UK based broker. When selling, can I avail of the higher UK CGT allowance (approx 3k annually) or must I follow Irish CGT rules as I now live here? Thanks in advance.

 

[ClubMan]

or must I follow Irish CGT rules as I now live here?

This, assuming that you are tax resident here.

How to know if you are resident for tax purposes

This page describes how tax residence is determined and how it affects the tax you pay

www.revenue.ie

 

[jpd]

You may liable to CGT in both countries

If so, the UK CGT can be offset against the Irish CGT

 

[Bagman]

Thanks Clubman for your prompt reply. The 3k allowance would have been nice, especially if I could sell some before and after April 5 but I figured it was wishful thinking!

 

[Bagman]

You may liable to CGT in both countries

Thanks jpd. Now that would really eat in to any increase in share prices. Where can I find this out?

 

[jpd]

Search for the double taxation treaty between Ireland and the UK on the Revenue.ie website

There is a section on CGT