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Ronan, Solicitor
Category: Republic of Ireland Law
Satisfied Customers: 2253
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

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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?
Thank you
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 and other Republic of Ireland Law Specialists are ready to help you
Customer: replied 4 years ago.


Customer: replied 4 years 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

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