I got planning on a site but it has a condition that a family member must build on it. My parents have expressed an interest in buying it from me and moving to the country. The piece of land is 3 acres and has planning for a house. I inherited the land last year along with some other land. These 3 acres were valued at €21,000 and I paid my inheritance tax on all.
They have asked me to name my price but I would like to know where I stand with CGT. As they are my parents I will not ask for the market value. What is the best way to sell/gift this to them. Do I need to get it valued in order to make my CGT return? Can it be valued below market value because it has a planning condition attached? Do I have to state that it has planning at all. Any help please!!!
They have asked me to name my price but I would like to know where I stand with CGT. As they are my parents I will not ask for the market value. What is the best way to sell/gift this to them. Do I need to get it valued in order to make my CGT return? Can it be valued below market value because it has a planning condition attached? Do I have to state that it has planning at all. Any help please!!!