Notifying Revenue re Disposal of Non-Principal Property / CGT

We are approaching the final stage of selling our 2nd home, purchased 10 years ago at 229K plus 10K for stamp duty/legal fees, with intention of moving there for retirement. It had been used for holidays/weekends ever since, and due to change of personal circumstances, it was decided to sell it up, having accepted the offer of 205K. Having incurred a loss of 24K, CGT would not arise, and all the NPPR/HouseholdCharge/LPT had been paid up to date. Is there any obligation on our part to notify the Revenue of our disposal of this property? Thanks in advance, allencat3

You should, as the loss is an asset. It has a potential value of €8k and carries forward indefinitely.

+1

Revenue will be aware of the transaction via the conveyancing documents, and will expect you to complete either a CGT return (CG1), or the CGT panel of the form 11 tax return, by 31 October 2016.

Thanks very much for the info/ advice - esp. obligation to complete the CGT return before Oct 31 of this year, of which I wasn't aware.
Allencat