Selling UK property. Calculating CGT

F

FTB_2008

Guest
Hi,

Just wondering if anyone here has sold property in the UK. If so what costs do you incur?
As explained in the following link Ireland have a double taxation agreement with the UK : [broken link removed]
I can see that Ireland's CGT is 20% however finding it a bit difficult to establish what it is in the UK.

If I bought an apartment for €100,000 in the UK a few years ago and sold it for €150,000 today then how do I calculate what I owe. As we have double taxation agreement do I pay the CGT according to the Irish rule or the UK rule.
From looking at the revenue web-sites this is my take on it :

(1) I pay CGT on €50,000
(2) I pay the CGT in the UK.
(3) If the amount of CGT I pay in the UK is less than €10,000 (i.e. Irelands 20% rule) then I have to pay the difference over here

Appreciate any feedback on this.
 
Sorry to jump on your thread but I have similar question. Firstly in reply to your q, from my research, you pay the full amount due to UK authorities and then have to pay it again here if you bring the gain (ie the cash) into Ireland. (You would think they are getting enough in DIRT). Don't think this can be right but I can not seem to find a definitive answer on Revenue website. Can anyone give me the name of a tax professional with experience of dealing with UK and CGT?