family land

[dave34]

recently got planning permission through to build a house on my fathers site, I now want to have the site put into my name. does anyone know how much solicitors charge for this service, also bit confused about tax issues was told before that i didnt have to pay tax because it is a gift! but want reasurrance on this.

 

[mathepac]

I believe the fact that the land now has planning makes it more valuable than if it had been gifted before planning was granted.

Assuming the planning doesn't fall on the transfer, a solicitor would charge for conveyencing and outgoings (Land Registry, VAT, etc.)

CAT (Gift and Inheritance tax) thresholds are listed here - http://www.revenue.ie/
scroll down to - Indexed Thresholds for Capital Acquisitions Tax - 2008 essentialy €521,208.00 on a gift from parent to child, assuming no previous gifts.

 

[ClubMan]

family land

 

[dave34]

thanks for that, the reason we didnt transfer land before was incase i didnt get planning, seems pointless transfering land to my name on the hope of getting planning then transfering it back if i was refused.

 

[ClubMan]

Since you have not edited the thread title I am closing this thread. You can start again with a meaningful thread title if you like.