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Looking for advice

  • 04-11-2018 2:53pm
    #1
    TinaM58
    Registered Users Posts: 5 ✭


    I am not sure if this is the right thread?

    In 1997 my parents gifted me a small piece of land with derelict buildings.
    In 2005, I sold the land to invest in the purchase and renovation of a personal residence.

    In my ignorance, I assumed that the solicitor handling the sale would take care of all taxes.
    I am now being led to believe that this may not have been the case.
    In the excitement of finally securing my own home I honestly didn't study the paperwork properly.

    The solicitor who handled the sale has since closed business (enforced by legal issues)

    Does anyone know: A. How could I find out if any taxes were due/paid
    B. Is there a statute of limitations on CGT
    C. If there is tax due, would it be at 2005 levels and how could you find
    this out.

    Any advice appreciated as I wouldn't know where to start.


Comments

  • #2
    TinaM58
    Registered Users Posts: 5 ✭TinaM58


    ACAguy your mailbox is full


  • #3
    heretothere
    Registered Users, Registered Users 2 Posts: 635 ✭✭✭heretothere


    I don't know how much you inherited but if it was less than €466,725 then you were covered by the threshold in 2005.

    The threshold is €320,000 now and it's cumulative so if you inherited lets say €100k you can still inherit €220k without paying CAT. If you exceeded the above threshold you are liable to CAT, there is no time limit.


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