Certified Tax Advisor

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Boston Guinness

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Hi all, wonder if anyone could point me in the direction of a good tax advisor as I've a query on Capital Gains tax for an investment property I am selling. We're in the Dublin 15 area so someone in West Dublin would be ideal.
 
This would be routine for any accountant in practice unless there is something very odd about it. And if there is, most accountants would consult with a specialist.

It is very unlikely that they need to be in West Dublin. The tax laws are the same throughout Dublin and indeed throughout the Republic.

Brendan
 
Hi Brendan, thanks for your reply. Emailed a Tax Advisor in Dublin who emailed back to say his fees for advice on CGT for our rental property would be €1,250 plus VAT. Sounds excessive but maybe someone on Boards would be able to comment? I thought myself this would come to €500 to include VAT but I may be undervaluing what's being charged by Tax Advisors for things like this.
 
Can't you just work out your CGT liability yourself?
Why do you need an accountant/tax advisor?

Without more details of the nature of the issue it's impossible for anybody to tell if it should cost €500, €1,250 or any other amount.
 
Post the following and you will get good advice here on AAM:

  1. Year of purchase and value
  2. Year of sale and value
  3. Estate agents and solicitors fees at sale or purchase
  4. Details of any improvement
  5. Whether you occupied the house yourself and for how long
 
Thanks for response, guys. I note your comment also, Clubman, and I'd try to work out the CGT myself but our situation is a little complicated.

Bought house in June as our principal residence in1999 for £125k; house was corner lot semi-detach with attached garage;
In 2008, we took down the attached garage and built a detached house on the site which we moved into and this was our principal house.
We then rented our first house out from 2009 to April 2023 and now it's being sold with an offer of €600k on it.

During the time we had the house, we put in an attic conversion (cost €15k) and an extension out the back (cost €30k) which I would assume would be described as "betterments". Thanks for any advice.
 
That's quite a complex property history and working out the Capital Gains Tax liability on the disposal would entail careful application of technical rules particularly in relation to part-disposals. As such it most definitely warrants the involvement of a professional.

I'm not sure if you're going to find anyone who will do that for you for €400 plus VAT or even several multiples of that, as there would be significant implications in terms of tax liability and other risks were you to end up with a wrong answer.
 
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I agree with the previous two posters.
I was assuming a simpler situation and not one as complex as this.
€1,250 + VAT doesn't sound unreasonable in the circumstances, is a minor amount in the greater scheme of things, and would be (I think) an allowable expense for CGT purposes.
But maybe check more than just the one service provider that you've contacted so far to reassure yourself that it's a reasonable price?
 
ClubMan said:
I agree with the previous two posters.
I was assuming a simpler situation and not one as complex as this.
€1,250 + VAT doesn't sound unreasonable in the circumstances, is a minor amount in the greater scheme of things, and would be (I think) an allowable expense for CGT purposes.
But maybe check more than just the one service provider that you've contacted so far to reassure yourself that it's a reasonable price?
Click to expand...
The €1,250 + VAT figure was mentioned above as "fees for advice on CGT". He won't get a full Capital Gains Tax Computation and Revenue submission for such an intricate job for the colour of that money, unless he's happy to take a chance on someone foolish enough to underestimate what's involved.

As it's not beyond possibility that the CGT liability here would extend into six figures, this is the sort of situation where he should be shopping around on the basis of reliability and expertise instead of on price.
 
Great advice, lads. Based on the above, I think I'll make sure I go to a professional tax adisor and it may be that €1,500 (to include VAT) is not unreasonable, given the complexity of my situation. This is an allowable expense anyway for CGT purposes (checked with Citizens Advice Bureau). Cheers!
 
T McGibney said:
The €1,250 + VAT figure was mentioned above as "fees for advice on CGT". He won't get a full Capital Gains Tax Computation and Revenue submission for such an intricate job for the colour of that money, unless he's happy to take a chance on someone foolish enough to underestimate what's involved.
Click to expand...
You/we don't know what work precisely was quoted for to be fair.
Boston Guinness said:
Hi Brendan, thanks for your reply. Emailed a Tax Advisor in Dublin who emailed back to say his fees for advice on CGT for our rental property would be €1,250 plus VAT.
Click to expand...
 
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