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Section 23 relief apportioned ...

tradingwizz · 2017-06-09 18:36:30

Hi I'm buying a Section 23 with a business partner 50/50. He has no interest in the Section 23, primarily since he is buying his share through his business, so he can't make use of it anyway. My question is, even though I am buying just 50% of the property, can I still make use of the full 100% relief if he agrees to it?

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09-06-2017 7:36pm

#1
tradingwizz

Registered Users Posts: 41 ✭

Join Date: March 2010

Posts: 39
Hi

I'm buying a Section 23 with a business partner 50/50. He has no interest in the Section 23, primarily since he is buying his share through his business, so he can't make use of it anyway.

My question is, even though I am buying just 50% of the property, can I still make use of the full 100% relief if he agrees to it?

Tagged:

tax

relief

section 23

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#2 10-06-2017 9:25pm
Lockedout2

Registered Users Posts: 402 ✭✭

Join Date: March 2016

Posts: 401

You should ask your accountant so should your business partner.

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#3 11-06-2017 1:36am
tradingwizz

Registered Users Posts: 41 ✭

Join Date: March 2010

Posts: 39

I did - I was hoping to get find someone who could offer their experience

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#4 11-06-2017 12:53pm
Lockedout2

Registered Users Posts: 402 ✭✭

Join Date: March 2016

Posts: 401

What did they say?

The allowances go to the owner?

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#5 11-06-2017 2:27pm
tradingwizz

Registered Users Posts: 41 ✭

Join Date: March 2010

Posts: 39

There is no chapter and verse in the legislation which is why I was hoping to hear from someone who has done something similar already.

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