Capital gains time frame

Brego888

Registered User
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I've recently bought a new house with my partner but haven't sold my current house yet. It needs a bit of work which coincides with my brother needing somewhere to stay for a few months.
My plan is to do the works required and put it up for sale early next spring.

Will I be liable for captial gains tax on the profits of the sale if its not my primary residence for 7 or 8 months?
Is there a grace period for property being classified your primary residence or is it deemed not the day you move out?
We are moving into new house this month.
 
My understanding is that there is an allowable grace period of 12 months.

Open to correction

mf
 
Anecdotally I've heard similar but see no evidence of it anywhere on the revenue regulations.
Can anyone else shed any light?
 
Its here

the key bit

3.1 Full relief and deemed periods of occupation
Relief is given in respect of the gain accruing on the disposal of a dwelling-house (or part of a dwelling-house) which is a person's only or main private residence. Where only part of the dwelling-house qualifies, the gain is apportioned.
There is also apportionment to ensure that the relief is restricted to the proportion of the period of ownership during which the dwelling-house was the only or main private residence and for this purpose the dwelling-house is treated as having been so occupied during certain periods of non-residence, including
  •  those periods spent elsewhere in the State or abroad by reason of the duties of an employment and
  •  a period of up to a year after the cessation of occupation (to allow for the finding of a buyer and the negotiation of a sale).

To whatever mod deleted my last post I hope this is helpful, which seems to be a new requirement for posts.
 
Nice one cheers. So essentially I have a full year to complete the sale from when it ceased to become my primary residence if I want to avoid CGT?
 
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