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capital aquisition tax/ mortgage question

  • 29-09-2010 10:56am
    #1
    bogchick
    Registered Users, Registered Users 2 Posts: 16 ✭


    Hi everyone,

    Myself and my other half have recently been granted planning permission on a site of land which has been gifted to my boyfriend by his parents.

    We realise that we should have purchased the property before planning permission was granted as it is now worth more in value. But what we are not sure about are the tax breaks available, (Capital Aquisition tax) etc.

    From the information i have gathered it seems best that by boyfriend alone is gifted the land and not in both our names as the tax breaks are better. Will this also mean that my partner has to be the only person on the mortgage? or can he be gifted the land but the mortgage be in both our names?

    We have been told different ways of approaching this and were pretty confussed. If anyone else has been through the same issue or if anyone can advise me i would be so appreciative.


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