Tax on Selling an Apartment
I am planning on selling my apartment (my principle and only residence) and returning to my country of birth.
There are 9 years remaining on the Mortgage = -/+ 100k yet to pay.
Over the 11 years i have been paying the mortgage it has increase in value (recently valued by an agent).
Bought for 200k, expect to sell for 300k = 100k 'gain'.
My question is, will i pay a TAX when i sell my apartment, specifically on these capital gains i'm guessing?
I obviously would like to walk away with as much as possible, as i will need to purchase a residence on returning to Ireland.
I'm guessing there must be some form of Private Residence Relief? Whereby i never bought it just to make a gain and need the monies to purchase a replacement home.
Please if anyone could give me a few pointers, as accommodation in Ireland don't come cheap.
Thank you. Enjoy the weekend.