Where is your investment property located?

France
France
UK
UK
USA
USA
Spain
Spain
Ireland
Ireland


Filing Deadline

UK Tax Deadline January 31st


UK Property Taxes

Tax Residency

Irish Residents are taxable on worldwide Income and Gains. You are considered tax resident in Ireland if you spend at least 183 days here per year or 280 days over a two year period.

As an Irish tax resident and Irish domiciled person you are liable to tax on your worldwide income and gains. Therefore, if you own and rent a property in the U.K. you are liable to Irish income tax on the rents you receive and Irish capital gains tax ("CGT") on the gain if you decide to sell the property.

In other words, as an Irish resident, no matter where your property is situated, if you receive rental income or you make a gain on the sale of your property - you are always assessable to tax in Ireland.

Irish Taxation of U.K. Rental Income in Ireland

  • Treat the property as though it is an Irish investment property and take all of the relevant deductions available under Irish legislation.
  • Tax the net amount at the marginal rate up to 41% (plus PRSI & Levies).
  • Take a credit for the foreign tax paid.
  • Record the Foreign Income received as Schedule D Case III in your Irish Income Tax Return and submit the return together with your Irish Case III calculation. Note: if you calculate a loss, this can be carried forward and set against any future Case III liabilities.

Irish Taxation of U.K. Capital Gains

When you sell your foreign investment property you are liable to capital gains tax in Ireland on the amount of the gain at 25%. (You may also be liable to CGT in the foreign country – see below).

Irish CGT Payment Dates

  • If you dispose of a chargeable asset on or before 30 November in the tax year, you are obliged to pay Irish CGT at 25% on the gain by 15 December in that tax year.
  • If you dispose of a chargeable asset between 1 December and 31 December in the tax year, you are obliged to pay Irish CGT at 25% on the gain by 31 January in the following tax year. [Differing rates and dates apply to disposal in 2008 and prior years]

U.K. Capital Gains Tax

In most cases, upon disposal of a foreign property you will have paid CGT in the foreign jurisdiction. However, as an Irish tax resident individual you are exempt from CGT in the U.K. You are still liable in Ireland as outlined above.


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