Capital Gains Tax

O’Hanlon Tax advises individuals, trustees, and executors on the Irish Capital Gains Tax (CGT) implications of asset disposals, including gifts, sales, and compensation payments. CGT is charged on the gain, which is generally the difference between the sale price or market value and the original cost of acquisition, with enhancement, acquisition, and disposal costs deducted. 

We advise on CGT arising in the context of personal investments, share portfolios, property transactions, and the administration of estates and trusts. Individuals are entitled to an annual exemption of €1,270 and may offset current or prior year losses. Reliefs such as principal private residence relief, retirement relief, and the CGT-CAT offset may apply depending on the circumstances. 

For property disposals by non-resident vendors, we assist solicitors with Revenue clearance procedures to ensure compliance and avoid delays in closing.