Hi all
Does anyone know the situation re capital gains tax on building a second home in your garden?
My mother has a really big garden and she's exploring planning permission at the moment, there's essentially enough space to build another house and still keep her own. But if she builds a second home and sells it immediately, let's say she made 300,000 on the house, how much of this would go in capital gains tax? Given the cost of labour and materials etc, i just want to find out if it would be worthwhile to her (she'd probably make substantially more than €300,000 - it wouldu be closer to €450K I think.)
Does anyone know the situation re capital gains tax on building a second home in your garden?
My mother has a really big garden and she's exploring planning permission at the moment, there's essentially enough space to build another house and still keep her own. But if she builds a second home and sells it immediately, let's say she made 300,000 on the house, how much of this would go in capital gains tax? Given the cost of labour and materials etc, i just want to find out if it would be worthwhile to her (she'd probably make substantially more than €300,000 - it wouldu be closer to €450K I think.)