Hi all,
Could someone please help us as myself and my wife have gone thru all the documents about CGT on the revenue site and can't seem to find where we would stand ...
Here we go ... My wife's father in his 70's got a will made up (about 5 years ago) signing his house and rear garden over to my wife and her only brother who resides there ... So my wife and her brother are now in posession of the house and the garden ... Me and the wife have got planning permission to build a 3 storey house in the garden ... Would I be correct in saying that my wife has to gift her half of the house to her brother and he in turn will gift his half of the land to my wife so she can be sole owner of the garden and he will be owner of the house ... Could anyone help calculate the CGT just to give me an idea before I start filling in forms !!
P.S. Would stamp duty be as difficult to work out ?
Thanks in advance ...
Could someone please help us as myself and my wife have gone thru all the documents about CGT on the revenue site and can't seem to find where we would stand ...
Here we go ... My wife's father in his 70's got a will made up (about 5 years ago) signing his house and rear garden over to my wife and her only brother who resides there ... So my wife and her brother are now in posession of the house and the garden ... Me and the wife have got planning permission to build a 3 storey house in the garden ... Would I be correct in saying that my wife has to gift her half of the house to her brother and he in turn will gift his half of the land to my wife so she can be sole owner of the garden and he will be owner of the house ... Could anyone help calculate the CGT just to give me an idea before I start filling in forms !!
P.S. Would stamp duty be as difficult to work out ?
Thanks in advance ...