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2002 stamp duty receipts CGT

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  • 07-10-2014 7:44am
    #1
    Twominator
    Registered Users Posts: 22 ✭


    We bought our house in 2002 and paid about 10k in Stamp duty. We are sale agreed on our house and will sell at about 30k more than we paid in 2002. We have been renting the house for 3 years, so will have to pay some CGT.

    When calculating the CGT, I would obviously like to include the costs of the stamp duty to reduce my liability, but I have no receipt. Does anyone know if I need a receipt (in that I couldn't have the house now if I hadn't paid it), and if so is there somewhere I can request a receipt from?

    thanks


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    #2
    on_my_oe
    Registered Users Posts: 991 ✭✭✭on_my_oe


    Your solicitor might have one?


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    #3
    Twominator
    Registered Users Posts: 22 ✭Twominator


    on_my_oe wrote: »
    Your solicitor might have one?

    ill give it a go, but the solicitor we used is with another firm now, so may not have it.


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    #4
    patjack
    Registered Users Posts: 313 ✭✭patjack


    Twominator wrote: »
    ill give it a go, but the solicitor we used is with another firm now, so may not have it.

    Hi, Twoinator, is it an allowable decuction, I wouldn't think that it is, I could be wrong of course. I didn't think you could use a previous CGT payment as an allowable deduction on a current CGT calc. Again I am open to correction on this


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    #5
    GavMan
    Registered Users Posts: 1,919 ✭✭✭GavMan


    patjack wrote: »
    Hi, Twoinator, is it an allowable decuction, I wouldn't think that it is, I could be wrong of course. I didn't think you could use a previous CGT payment as an allowable deduction on a current CGT calc. Again I am open to correction on this

    He wants to include a previous stamp duty payment to reduce a pending CGT payment, no?


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    #6
    Twominator
    Registered Users Posts: 22 ✭Twominator


    GavMan wrote: »
    He wants to include a previous stamp duty payment to reduce a pending CGT payment, no?

    Exactly. The cgt applies for the upcoming sale, do I can deduct costs incurred including stamp duty as that reduces any gain.

    I emailed revenue and they state the receipt is the stamp on the deeds. Presumably that won't include how much we paid? Suppose I can simply apply the rate of the time and get a copy of the stamp to prove it was paid.


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    #7
    nompere
    Registered Users Posts: 1,678 ✭✭✭nompere


    Revenue only ask for receipts in the case of an audit.

    So far as stamp duty is concerned, they already know that you paid it, so you're never going to be asked to prove that again, even if you are audited.


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