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Capital Gains Tax Query

  • 12-03-2013 12:14pm
    #1
    jimmy the car
    Registered Users, Registered Users 2 Posts: 482 ✭✭


    Been looking around and can't really find a simple way to figure it out I don't think. It's very early days by I may be in the near future "hopefully" selling a site and from a quick google it seems, and I am open to corrrection, that CGT would be the only tax I would be liable for upon sale. My query is e.g. I sell for €50k, roughly how much CGT or other tax would I be liable for?

    Any advice appreciated.


Comments

  • #2
    Alan Shore
    Registered Users, Registered Users 2 Posts: 735 ✭✭✭Alan Shore


    jimmy the car wrote: »
    Been looking around and can't really find a simple way to figure it out I don't think. It's very early days by I may be in the near future "hopefully" selling a site and from a quick google it seems, and I am open to corrrection, that CGT would be the only tax I would be liable for upon sale. My query is e.g. I sell for €50k, roughly how much CGT or other tax would I be liable for?

    Any advice appreciated.
    Property related questions are against the charter.


  • #3
    jimmy the car
    Registered Users, Registered Users 2 Posts: 482 ✭✭jimmy the car


    Alan Shore wrote: »
    Property related questions are against the charter.
    Sorry about that, didn't realise.


  • #4
    ranmac
    Registered Users, Registered Users 2 Posts: 29 ✭ranmac


    Hi. I have an end-of-terrace house with a large side garden and am thinking of applying for planning permission for a 3 bed end of terrace. Anyone got any ideas as to what is the best way to handle the whole deal so as to minimise any Capital Gains Tax?


  • #5
    Lockedout2
    Registered Users, Registered Users 2 Posts: 402 ✭✭Lockedout2


    ranmac wrote: »
    Anyone got any ideas as to what is the best way to handle the whole deal so as to minimise any Capital Gains Tax?

    Go and talk to an accountant.

    VAT, Income Tax and RCT may be bigger issues than CGT.


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