Sale of UK home - bringing proceeds to Ireland: is it Taxed?

L

Lir

Guest
We sold our UK home some months ago and now need to bring proceeds to Ireland to fund building new house. We paid capital gains tax but are we now taxed again on bringing the money into Ireland. It was not our home for some time (10) yrs, has been rented since we reclocated. Both of us are from Uk.
If taxable, by what %?
 
If it is just a simple transfer of capital into an Irish bank - there will be no extra taxes to pay. Once it is making interest here - there will be tax deducted from that. You will incur some fees for the transfer from the UK bank - but that's another matter altogether.
 
Were you resident in the UK when you sold the property? If you were non UK resident it is a possibility that you were not liable to UK Capital Gains Tax on the disposal. Did you take professional advice on this?

If you are non-domiciled in Ireland you will be taxable on any gains remitted to Ireland, but this is a complex calculation, and if you paid UK Capital Gains Tax you should be entitled to a credit, but again you need to take professional advice.
 
Not been resident in Uk for 11yrs. We are both working and taxed here in Ireland. Do you think we have to pay double tax as in double taxation.
Thanks
 
As a non-UK resident for over 5 full tax years you do not have a liability to UK Capital Gains Tax. If you paid UK Capital Gains Tax, why did you? Did you get tax advice to do so? If you have paid UK Capital Gains tax and were not liable to this you should be reclaiming this.

What is your Nationality? Are you domiciled in the UK or Ireland?

This needs to be decided before you know what your Irish tax position is.

If you want to discuss in more detail PM me.
 
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