F frisbie Guest 12 Oct 2007 #1 Building house in own name, intend to sell and wondering about taxation. Currently home owner. cgt at 20% understood, are there further tax liabilities?
Building house in own name, intend to sell and wondering about taxation. Currently home owner. cgt at 20% understood, are there further tax liabilities?
K Kluivert Registered User Messages 131 12 Oct 2007 #2 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.
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.