Tax on disposal of a gift / inheritance

W

WhatToDo

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My father passed away about two years ago but before he died he was gifting me a half acre site. The site doesn't have planning permission and has been valued at €7000.

I've been given the choice by my solicitor of getting the site via the original gift or as an inheritance in my father's will.

My query is, if I were to sell the site in the future and make a profit on it, is it better to get the site now as a gift or an inheritance from a tax point of view?
 
If the value is the same, there should be no difference from a CGT point of view. The acquisition cost will be the same.

If you are building your home on it, there shouldn't be CGT on it anyway.

It strikes me as odd that there is an option of retrospectively giving you a gift.
 
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