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Single Payment Scheme - CAT/CGT

  • 25-10-2013 2:23pm
    #1
    Burd100
    Registered Users, Registered Users 2 Posts: 5 ✭


    Hi Folks
    Been trying to get an answer from the Revenue on this one but getting nowhere fast!

    Father transferred agricultural land to son in 2011(Returns all submitted)
    Related SPS Grants transferred from father to son in 2012.
    Grant income included in IT return for 2012.

    Apparently you also need to submit CAT/CGT returns for the entitlement to receive the grant.

    There should be no liability with Class A Threshold and Retirement Relief.

    HOWEVER..still need to submit returns and unsure what amount to use as chargeable asset?

    Amount changes year on year and as far as I know is reassessed regularly.

    Any pointers greatly apprecaited!:P


Comments

  • #2
    viztopia
    Closed Accounts Posts: 770 ✭✭✭viztopia


    I might also suggest that you post this in the farming and forestry section as you might get a better answer there..


  • #3
    Alan Shore
    Registered Users, Registered Users 2 Posts: 735 ✭✭✭Alan Shore


    It will be interesting to see will the mod in this forum take the same view as the taxation mod.


  • #4
    viztopia
    Closed Accounts Posts: 770 ✭✭✭viztopia


    Alan Shore wrote: »
    It will be interesting to see will the mod in this forum take the same view as the taxation mod.

    Very Very interesting indeed. Will stay up all night to see what they say.


  • #5
    dbran
    Registered Users, Registered Users 2 Posts: 2,094 ✭✭✭dbran


    The response is seek professional advise.


This discussion has been closed.
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