sold principal residence & want to make a loan to a US national

I

indigoblue

Guest
I have two questions about a recent house sale - I sold my principle residence earlier this year (am currently renting) and have banked €180K - am I assessed for tax on that sum?

I also want to lend €100K of that to my partner who is based in the US (it will all be done with a legal contract etc so I am not worried about the actual loan) what are the tax implications of transferring a sum out of the country to another person? The loan will be re-payed to me in 3 years.

Many thanks for your help

PS: I should add that I'm self employed
 
I don't need advice on whom I'm making a loan to - the question is about the tax implications. Thanks
 
Re the sale of your PPR- so long as you occupied the house for the entire period of ownership (allowance is made for periods spent working away from home either in Ireland or abroad) then you won't face a CGT liability on the sale.

Re the loan- I can't say with any certainty but if it's a normal commercial transaction I don't think that there would be any tax issues. You might need to check out if there are banking /currency transfer / reporting requirements given the amount involved.
 
thanks very much for that - I'll do some checking about the currency as you suggest. Much appreciated.
 
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