Republic of Ireland Law
Ask a Republic of Ireland Law Question, Get an Answer ASAP!
1. You won't be liable to pay any tax on a sale of the house if it is your principal private residence. So, if you are living in the house on a day to day basis, there will be no CGT payable on any sale of the house, as the principal private residence exemption will apply. Secondly, you can sell the house and take advantage of the principal private residence relief once you have been living in the house for a period of one year. After this time, you can sell the house tax free.
2. If you require clarification or if there is additional information you wish to share, I will be happy to assist further in the resolution of your Question.
3. You are welcome, Carmel. Glad to be of assistance.