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TonyTax
TonyTax, Tax Consultant
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I am resident in the UK years and after my parents death

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I am resident in the UK for 30 years and after my parents death we had to sell their property for 795,000 Euros. There are 5 beneficiaries and my share of Capital gains tax was around 51,000 euros. I believe there is dual tax arrangement between the UK and Ireland. The capital gains level is completely different in both countries so as a non resident of Ireland can I claim a refund with the Irish revenue or receive a refund/credit with HMRC here in the UK - as they have a bi-lateral agreement for tax with each other?
Submitted: 1 year ago.
Category: Tax
Customer: replied 1 year ago.
The property was sold in November 2015 by the way.
Expert:  TonyTax replied 1 year ago.
Hi.
Article 14 of the UK/Ireland double tax treaty allows the Irish tax office to tax the capital gain made by a non-Eire resident when such gain is made from the sale of a property in Ireland. The UK started doing the same for gains made by non-UK residents on the sale of UK residential property with effect from 6 April 2015.
http://www.revenue.ie/en/practitioner/law/double/uk.html
As a UK tax resident, you are liable to UK tax on your worldwide income and gains. That makes your share of the gain taxable in the UK but you will get credit for the Irish CGT paid against the UK CGT liability. If the Irish CGT exceeds the UK CGT, you will have no CGT to pay in the UK. If it doesn't, you will have some CGT to pay in the UK.
Each country has its own tax rules and if the liabilities don't equate, that's just the way it is I'm afraid. Nobody is going to repay any tax to you.
I hope this clarifies your position but let em know if you have any further questions.
Customer: replied 1 year ago.
Do you know the Uk cgt liability level as of November 2015 and if possible the Irish one?
Expert:  TonyTax replied 1 year ago.
Take a look here for the UK CGT rates:
https://www.gov.uk/capital-gains-tax/work-out-your-capital-gains-tax-rate
and here for the Irish CGT rate:
http://www.revenue.ie/en/tax/cgt/
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15882
Experience: Inc Tax, CGT, Corp Tax, IHT, VAT.
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