Hi,
Simple question- Investment property purchased 2005 for E200000
If i sell now for E260000 what CGT do I pay? Is it essentially 33% of 60000. I see there is an annual exemption of E1270? I assume I can't multiply that by 9 as it's 9 years?
Is there anyway to reduce the apparent tax bill of E20000 or E18730(20000-1270- is that correct?) in this example?
Many thanks.
nbc
ps I'm resident in the UK for the past 3 years- I don't know if that makes a difference? Am I subject to Irish or UK cgt rates? Obviously UK rates are lower.
Simple question- Investment property purchased 2005 for E200000
If i sell now for E260000 what CGT do I pay? Is it essentially 33% of 60000. I see there is an annual exemption of E1270? I assume I can't multiply that by 9 as it's 9 years?
Is there anyway to reduce the apparent tax bill of E20000 or E18730(20000-1270- is that correct?) in this example?
Many thanks.
nbc
ps I'm resident in the UK for the past 3 years- I don't know if that makes a difference? Am I subject to Irish or UK cgt rates? Obviously UK rates are lower.