Moving abroad - CGT - disposal of shares after departure

C

celery

Registered User
Messages
3
Hi,
I am currently living in Ireland and I plan to move to the UK very soon.
I have some shares that I will have to sell in the future (after my departure), and I was wondering if I will still have to pay the 33% CGT on the disposal of the shares that I acquired when I was living in Ireland?

EDIT: I found what I needed ! As explained on this guide: https://www2.deloitte.com/content/dam/Deloitte/ie/Documents/Tax/ie-tax-ges-moving-abroad-guide.pdf, as I do not plan to come back to Ireland, I will not be taxed in Ireland (of course, I will still have to pay the british CGT on the disposal of the shares)

Thanks!
 
Last edited:
Are you sure you read that correctly, insofar as it relates to CGT?

You remain ordinarily resident for 3 full years after leaving, and therefore potentially within the scope of Irish CGT.
 
Hi,
Yes I think I do ! I remain ordinarily resident for 3 years but I will not be domiciled in Ireland.
In they guide they say: 'Non-Irish-domiciled, but ordinarily resident, individuals will continue to be liable to Irish capital gains tax on any Irish gains and other foreign gains to the extent they are remitted to Ireland. '. I am not Irish and I do not plan to come back to Ireland, therefore my gains are not remitted to Ireland (if I understand correctly?), therefore I don't think I will have to pay the Irish CGT. My goal is obviously not to avoid paying any tax (as I will still have to pay the CGT in the UK).

CGT.png

Source: Taken from https://www2.deloitte.com/content/dam/Deloitte/ie/Documents/Tax/ie-tax-ges-moving-abroad-guide.pdf
 
It sounds like you are non-Irish domiciled; you should note that the UK system has similar carveouts for non-doms.
 
Hi Celery, im hoping to piggyback a query to the room from the table you have posted above. Can you have a YES, NO, YES scenario? i.e when someone has been non Irish resident for the preceding 3 years, what are the liabilities to Irish income tax on worldwide income
 
SaveThePlanet said:
Can you have a YES, NO, YES scenario? i.e when someone has been non Irish resident for the preceding 3 years, what are the liabilities to Irish income tax on worldwide income
Click to expand...

Resident, Non-ordinarily resident and Irish Domiciled:

Liability = Irish income tax on worldwide income and Irish CGT on worldwide gains.
 
You must log in or register to reply here.
Back
Top