Moving House

Can anyone advise please.Thinking of moving House,if we purchased the house for 200,000 and sell for 300,000 (100,000 profit) but want to reinvest all in the new house do you still get taxed on profit .We are residents and lived in the house for 15 years.

Many thanks

If you are both over pensionable age and lived in the property for more than 3 years there is no capital gains tax to pay.

Main home exemption. If you are selling and the amount of money you receive is invested in another property anywhere in the EU there is no CGT to pay if that then becomes your main home.

This must be done within 2 years of selling the property.

Does this apply for a holiday home, if I sell my holiday home but buy another which is more expensive?

Volcano wrote:Does this apply for a holiday home, if I sell my holiday home but buy another which is more expensive?

No because it's not your primary residence. It's a main home exemption.

Thank you all for your quick replies

If you make 100,000€ (profit from main home) from a sale. Buying a new main cost 50,000€ more , can you us the other 50,000 to pay the buys taxes 10%/12% & your cost or does all the 100,000 have to be used on the price of the new home??

Many thanks
Nottsman