CGT on commercial property sale.

[iggy]

I am considering selling a small shop I own. I bought it 10 years ago for approx. €20,000. I spent roughly €7000 on maintainance over the years and expect to get about €185,000 for it. Can anyone give me a rough idea of the CGT I might have to pay?...thanks.

 

[ubiquitous]

As a general rule expect to pay CGT somewhere in the region of 15-19% of your gain. CGT is charged at 20% but there are some deductions you may claim. You should get professional tax advice in order to minimise, or if you're lucky, maybe even eliminate entirely your liability.

 

[iggy]

As a general rule expect to pay CGT somewhere in the region of 15-19% of your gain. CGT is charged at 20% but there are some deductions you may claim. You should get professional tax advice in order to minimise, or if you're lucky, maybe even eliminate entirely your liability.

Thanks for the reply......