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Hi folks, not sure how kosher it is to bump my own thread. For various reasons what was theoretical at the time is now going to become real. We have an auctioneer coming to value the house in the next few days and am hoping in the intervening years someone got some practical experience. Thanks

Thanks. RCT is a foreign language Here's another RCT query. Butcher takes in a carcass. Butchers it, makes burgers, vaccum packs them, puts his label on them He pays a guy to take away the carcasses, he pays a professional cleaner to clean his equipment and prep rooms? Are they relevant...

Anyone here familiar with RCT. Am I right in saying that if the director and sole shareholder in a building company, pays his own company to develop some investment properties he owns personally, that as a connected person he becomes a principal contractor and his company becomes the subbie?

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If you hold it for 7 years and sell in year 7 then CGT is relieved, if you sell in year eight 7/8 is relieved, year 9 7/9 is relieved etc

My guess is the joint assessment is a red herring. You can't lose out through joint assessment, in fact based on your income levels it would ensure cut off are correctly allocated. There is no way of knowing from these details but my guess is you simply underpaid tax somehow regardless of...

Follow up on this - anyone know if it applies to first million with 33% after that or does it like retirement relief only apply to sums under 1 million, ie if the gain is 1.5 million the entire amount is subject to CGT at 33%

My guess is Revenue will not help. They state that the builder should show you his records online and you should check. I'm afraid your best recourse I would say is lega

Nothing Doing.............Bump (cough)

Would appear to me that while you may have an interest in another residence during the three year period in which you live with the donor, it would have to be disposed of prior to the date of interitance

Any thoughts whether the transfer of an asset on the Transfer of Business rules, most notable a capital good must be reflected on the VAT RTD form?

If I am selling up my farm and my gain is sheltered by retirement relief. Lets say the gain is 200k. I also have CGT losses forward of 100k. In general you must use the losses at the first available opportunity. Must you use the losses to reduce the gain before relief. Would seem a...

If you are Irish resident/domiciled etc then the shares in lieu are taxed in Ireland. The net amount is taxed.

Thanks for this

Remember if the company is a professional service company, profits will almost certainly be taxed at around 20% not the 12.5%

Am I right in thinking that a spouse can invest in a wife's company under an EII scheme (all things being equal). The definition of "associate" in this regard seems to specifically exclude family? Has anyone come accross this?

That's my situation alright , but thats 22 years old. Wonder will they satnd over it thanks

It, not usually a big problem Seamus for the Revenue, if anyone is missing out its you not them.

Hard to see an advantage there, but very little information. However tax wise it would take an exceptional set of circumstances where joint assessment is a disadvantage. Remember once you are married, joint assessment is automatic, you must specifically opt out (after the year of marriage...

My scenario is a person moved abroad in the middle of 2014 (210 days in Ireland), with the intention of remaining abroad for several years. They only had employment income while abroad. Due to pregnancy they spent a few months back in Ireland in 2015 when the baby was born, meaning on review...