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Capital gains tax

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  • 17-02-2023 12:42am
    #1
    paulacul
    Registered Users Posts: 13 ✭


    Hi, looking for advice please. If I wish to buy a siblings share in an inherited family home (100k), what would be the tax implications if any, for each of us. We both live in the home and do not have a 2nd property. I'm quite worried about this issue.

    Advice must appreciated. Kind regards.

    Tagged:


Comments

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    #2
    GandhiwasfromBallyfermot
    Registered Users Posts: 401 ✭✭GandhiwasfromBallyfermot


    I'd advise you to go see a Chartered Tax Advisor or a Solicitor.



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    #3
    Geuze
    Registered Users Posts: 13,086 ✭✭✭✭Geuze


    https://www.boards.ie/discussion/2058284608/capital-gains-tax


    If you pay the market value for the share of the house, then there aren't many tax implications.

    I am assuming here that any CAT owed by the beneficiary has already been settled.

    The seller won't pay any CGT on any gain, as long as the house has always been their PPR.

    The only tax will be stamp duty on the transfer.



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    #4
    paulacul
    Registered Users Posts: 13 ✭paulacul


    Thanks so much for your comment.



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