cgt on house sale in Republic of Ireland

My wife and I have recently sold a holiday home in Ireland held jointly in my and my wife's name. Irish CGT has been paid in full and we have all receipts etc from the Irish Revenue. The remaining money has now been transferred from a euro account to our sterling account in the UK. We are permanent UK residents. I am no longer required to make a tax return but my submits an annual return in the normal way. I assume that my wife and I will need to make a separate return relating to this income. When and how do we inform HMRC of the receipt of this money ?

Hi carrick,
Please refer to guidance at Report and pay your Capital Gains Tax.
Thank you.

Thank you, not a very helpful reply, if I was able to fully understand the HMRC guidance I wouldn't need to seek help on this site. I have attempted to do a real time submission but there is no facility on the online form for claiming CGT already paid in Ireland. I have been informed by HMRC that I no longer need to make a regular tax return so my question again - how do I report a CGT to HMRC having already paid CGT on the gain in Ireland with whom HMRC has a reciprocal tax agreement?

Hi,
This forum is for general queries only and is intended to help you self-serve.
We are unable to provide specific advice tailored to individual circumstances.  
As previously advised - Report and pay your Capital Gains Tax
Thank you.
 

Another very unhelpful reply. I am not asking for specific advice. I am making a general enquiry about how to submit a CGT return relating to a non UK property sale. The link you give me is very vague and does not give any detailed information. For example where in the real time CGT online docs is there any provision for recording CGT already paid outside the UK. ? The whole point of this forum is to provide answers to questions not dealt with in the generic information and help pages on the HMRC website, The very existence of this forum and the volume of requests on it strongly suggests that your generic information is inadequate. The general tone of your responses now is in marked contrast to your rapid, helpful and comprehensive responses that we used to get a couple of years ago

Not HMRC. You both should complete SA forms to report the gain. This is a foreign disposal, and you wish to claim foreign tax credit. You should therefore calculate the gains on UK RULES (not the rules of the country of disposal). You need to convert the sales proceeds to £ on sale. You need to convert costs on purchase to £ at the date of purchase, and add in any improvement costs. You also need to claim the foreign tax credit which will either leave an amount due in the UK or the liability will be covered by it, but you cant claim the excess. Completing SA returns will ensure the correct rates of UK CGT are used as they are dependant on other income in the UK. A real time submission in this situation simply wont work.

Hi Carrick A very similar situation to my brother, which I helped him with. Assuming a 50/50 split with your wife:- 1. Your wife will declare her 50% this Capital Gain on her tax return. She will need to ensure the appropriate pages are included, specifically foreign Capital Gains and Relief for Foreign Tax paid. She will need the 50% cost, sale proceeds and disposal costs. This will give her a a gain. UK CGT will be applied. If the Irish Tax suffered is greater than this amount, she will have to pay the difference. If Irish tax is greater than the UK tax, unfortunately, a refund is not available. Use exchange rates in force at the time of each transaction for sterling equivalent. 2. Unfortunately, to declare your share of the gain, you will have to register for self assessment and complete an income tax return, on the same basis as your wife. You will have to fill in the tax return fully, not just the Capital Gain, so the correct marginal rate of CGT, is applied to the appropriate amount of your gain.