selling of house for development purposes - Tax implication

[eoghank]

I understand that there is no capital gains tax due in the case of one selling their own home, I also believe that you can sell your property with circa an acre of land with no tax due either. Is there Capital Gains Tax due if you sell a property with land, with planning permission attached to the sale (ie planning permission for additional detached house)

Thanks in advance for advice.

 

[ClubMan]

CGT is an issue in this case as far as I know. See the Revenue Guide to CGT:

When the private residence comprises development land and the consideration exceeds €19,050, the private residence relief is withdrawn or modified. This includes the disposal of a garden or part of a garden of a principal private residence for ‘development land’, e.g. if sold as a site, or for access, right of way etc. If the consideration (or open market value, if it is transferred in a non arm’s length transaction e.g. gift ) is less than €19,050 full relief will be due.

 

[runner]

Yes, unfortunately you have to pay CGT on the site part of the garden that has the PP. Its all in the revenue guide. It will cost you 20% of the INCREASED value of the garden after you deduct the purchase cost (prorata) of the garden originally and less sale expenses.