Property in Belfast - tax query

Myself and my partner bought an apt in belfast late last year which we intended moving into this year. We decided to rent it out for a year before we moved in to it. Now however we are instead going to purchase a different property in the north next year so we are not going to bother moving into the apt at all. We both still work in dublin. The capital gain on the apt by next year will be approx £50k. If this is realised after we have moved up to belfast to our new house will we be taxed as UK residents where the CGT is basically marginal income tax after your allowance is taken off. We will not earn any income in the UK next year so that tax would be fairly low, however if we sold before we moved up we would presumeably be faced with Irish CGT of 20%. Mortgage interest is greater than rent so no income tax is paid. We will start working in the north in 2008 but will travel down to dublin for a couple of months next year. We are getting married in early 2008 so we want to sell before then to take advantage of 2 CGT allowances.

Anyone have any advice?

helpneeded said:

Mortgage interest is greater than rent so no income tax is paid.

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But don't forget you must still make a return although no tax is due.

helpneeded said:

We are getting married in early 2008 so we want to sell before then to take advantage of 2 CGT allowances.

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As long as the property is both of your names you will still get 2 allowances when married.