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CGT Implications?

  • 06-03-2018 10:23pm
    #1
    benjy1000
    Registered Users Posts: 175 ✭✭


    Hello there,

    Would really appreciate some advice please?

    I am in the midst of selling a few acres of land and a small homestead to the brother.

    I inherited this holding in 2008, the value on it was €100k( market value) , I didn’t have to pay any inheritance tax on it.

    Will receive around €60,000 ( market value) for it all now.

    I figure there will be no CGT on this as the sale cost is less than the purchase price or what I’m now wondering is does the fact that I never actually paid any purchase price (100k)count against me and I’m left with a CGT of approx €20k (33% of 60k)?

    Any advice welcome?

    Thanks


Comments

  • #2
    Immy
    Registered Users, Registered Users 2 Posts: 260 ✭✭Immy


    The 100k will be deemed to be your purchase price. So as long as you sell at market value, no cgt


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