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Ronan
Ronan, Solicitor
Category: Republic of Ireland Law
Satisfied Customers: 1982
Experience:  B. Corp Law, Ll.B. Dip Comm Prop. In general practice for more then 6 years
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so If I sell my flat for £350,000 considering I do not owe

Resolved Question:

so If I sell my flat for £350,000 considering I do not owe capital gins in the UK what do I pay to the Irish government on the sale of my flat?
regards
Thank you
Submitted: 1 year ago.
Category: Republic of Ireland Law
Expert:  Ronan replied 1 year ago.
You are obliged to pay CGT on gains made on assets disposed of outside state if you are resident in Ireland . The current rate is 30%

The formula is as follows

sale price less (purchase price x multiplier for year of purchase) less cost of sale less exemption of €1,270.00 equals the amount to which the 30% rate is applied
Ronan, Solicitor
Satisfied Customers: 1982
Experience: B. Corp Law, Ll.B. Dip Comm Prop. In general practice for more then 6 years
Ronan and other Republic of Ireland Law Specialists are ready to help you
Customer: replied 1 year ago.

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Customer: replied 1 year ago.

so even though my mortgage is £200,000 in the UK am I still taxed on the purchase price which was £69,500? What exactly is 'x multiplier for year of purchase' mean? Sorry for all the questions I am trying to work out if it is worth selling the property

Expert:  Ronan replied 1 year ago.
The purchase price is

£69,500 x by the multiplier for the year of purchase

For CGT purposes, each year is assigned a multiplier by which the purchase price is multiplied by to account for market growth, inflation etc. If you check the revenue website you will be able to find out from the year you purchased the property what the relevant number by which your purchase price should be multiplied

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Ronan
Ronan
Solicitor
1982 Satisfied Customers
B. Corp Law, Ll.B. Dip Comm Prop. In general practice for more then 6 years