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Capital Gains Question

  • 24-10-2017 3:04pm
    #1
    jeph13
    Registered Users, Registered Users 2 Posts: 8 ✭


    Hi
    Hoping for some help. When my dad passed he left a site he had started building on to my brother who lives abroad and did not want to build on it so we have started building on it. Only now are we however getting around to signing over as we need to apply for finance. My brother just wants to gift it or sell it for a €1.

    I only had the issue of Capital Gains brought to my attention today and Stamp duty. Was not aware of how much was involved. Can anyone advise me on if their is a way I can avoid this. The site was worth very little when we started building and my brother is not selling it or making any profit?

    Thanks in advance for any advice.


Comments

  • #2
    Mr. Incognito
    Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭Mr. Incognito


    Speak to a solicitor immediately or a tax advisor.

    You could run into huge interest and penalties otherwise.


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