How much taxation on selling new house?

F

frisbie

Guest
Building house in own name, intend to sell and wondering about taxation. Currently home owner. cgt at 20% understood, are there further tax liabilities?
 
No

However if you intend to do this on a regular basis, then you will be liable to Income Tax rather than CGT.

I think you may get away with CGT on the first occassion, but after that I am not sure.

Individual Exemption of €1,270. CGT is 10,000 - 1,270 = 8,730 payable.

There are two dates for returns, 31st October and 31st January.
 
Back
Top