S
Yes. Absolutely. BUT CGT / CAT/ Stamp duty may be payable and that will be on market value NOT on actual price. Reason: Revenue know what Tax payers are like and worked this one out a long time ago.
mf
Stamp duty is payable on market value not anything else.
So a vendor could not colude with the buyer and sell it for 1 euro?"Can one sell property for much less than the price it would possibly get on open market to get around situations like this."
Yes. You can. But its a fraud on Revenue. Stamp duty is payable on market value not anything else. Stamp duty is on a self assessment basis so even if it gets through Revenue first time, it can still linger and lurk with interest and penalties accruing.
"Is it not the vendors business if they sell their own properties at a knock down price for what ever reason?"
Yes. Absolutely. BUT CGT / CAT/ Stamp duty may be payable and that will be on market value NOT on actual price. Reason: Revenue know what Tax payers are like and worked this one out a long time ago.
mf
So a vendor could not colude with the buyer and sell it for 1 euro?
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