Form 11 Chargeable asset acquired

foundation10 · 06-11-2016 09:44PM #1

During 2015 I received a house as a gift, do I have to include this is as a chargeable asset acquired in Form 11 even though I did not pay anything for it?

nompere · 06-11-2016 11:37PM

Specific property taxation advice isn't allowed in this forum.

On a general basis, the receiver of a gift (other than cash) needs to fill in the chargeable assets acquired part of a tax return, because most gifts are deemed to be acquiired at market value. There's also a gifts and inheritances section on the return that needs to be completed. That's part K on page 26.

The donor may be liable to capital gains tax on the disposal of an asset, and someone usually needs to consider stamp duty.

This is the sort of area where professional advice is usually needed.

gerrybbadd · 09-11-2016 01:42PM

There might be CAT implications also

foundation10 · 09-11-2016 02:23PM

Thanks for the replies.

All other taxes CAT stamp etc are looked after. Does the consideration include the costs such as stamp legals etc or is it purely what appears on the deed is the consideration?

Form 11 Chargeable asset acquired

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