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  1. J

    When exactly does inheritance tax become due?

    The reason tax advice is expensive is that it needs to be right. In general CAT is due based on the valuation date this could be a few dates: - the date of death - the date of the grant of probate - a death when the beneficiary receives or can receive the benefit. So in your case it was...
  2. J

    Help! Car insurance pursuing me for 100k!

    You learn something new every day. I would have assumed that despite not being allowed by their license from driving alone that the insurance would still apply. Like it applies when traveling in excess of the posted speed limit. BUT it seems that insurers have been changing the terms for...
  3. J

    Cro post gone missing

    If they were received then how could they possibly be late. Common sense will surely prevail and they will request you to send in another set of signed forms.
  4. J

    Self Employed, VAT Registered & Paid by my Dad to Care for him

    +1 for Tommies advice. Spot on.
  5. J

    inheriting a family home tax issue

    It revolves around the point of when do you inherit property is it the date of death, the date of the grant of probate or the date that agreement is reached or it’s transferred to you. For the purposes of CAT it’s the date of the grant of probate except where you are in occupation of the...
  6. J

    Capital Gains Tax on sale of share in family home

    So the current market value is €300k. The purchase price was £42,000 I assume in the 1990s. So it’s 300k -( €50k (x indexation)) = €240k x 1/3 = €80k - €1,270 = 79k x 30% = €24k!!!! It’s unfortunate that your name was added to the deeds and that you did not just loan the money to your sibling.
  7. J

    Capital Gains Tax on sale of share in family home

    Capital Gains Tax is based on the difference between the sales proceeds and the cost. This is a difficult situation you were given a 1/3 share in the property for a £10,000 contribution. So how much did the property cost at the start and how does this compare to the current value? You will...
  8. J

    Problem with will

    So the father made no provision for his disabled son?
  9. J

    Buy to let - tax question?

    A simple example might help. Rental income 12,000 Less expenses Management fees 500 Auctioneers fees 500 Insurance 250 Loan interest 3750 Profit 7,000 Less Capital allowances on fixtures and fittings 500 Taxable 6,500 Tax approx 3,250.
  10. J

    Problem with will

    You might rephrase your post. If he has been left the house who wants him out?
  11. J

    Travel from Home Office - Tax Deductible Yes or No ?

    I would have always said that the base was the house but since the contractors project I’m not so sure. It could be that you are using the home office for convienec and therefore the place of work changes to the clients office and therefore you are not entitled to claim expenses. Personally I...
  12. J

    Tax on repaying sign on bonus

    I’d imagine that they would process it through payroll so that your last months salary would be €5,000 lower and therefore the tax would refunded automatically by implication in this job or the next.
  13. J

    Returning from abroad, capital gains tax and section 29A

    On the face of it I’d imagine your overthinking it unless the fund is heavily invested in one company to a very large extent. This was brought in, in response to a certain media tycoon who owned a valuable communications company and left Ireland to live in Portugal. He then sold the very...
  14. J

    Lodged cheque - no signature

    The bank told me that they would not lodge Cheques made out to one party to a joint account. They have not sent any back yet!
  15. J

    BIK on company car

    Your salary is increased for tax purposes and reduced for payment purposes. So gross pay €40k net pay €30k Gross pay with BIK €49k net pay €26k
  16. J

    Renovation Property as a Business

    That looks like income tax not CGT particularly if you have a building company. VAT is complex in residential property. A second hand house which is outside the VAT net may stay outside the VAT net. RCT will apply to all payments to subcontractors.
  17. J

    employee contract and bonus issue

    On the basis that they are terminating your contract I think that the clawback clause would not be envoked. But in the absence of the specific wording it’s umpossible to tell.
  18. J

    Capital Gains Tax on sale of land

    If the land was in your husbands name and was transferred to you on his death then the value at that date or the date of the grant of probate is the base cost. If the sales price is higher than the base cost then there could be CGT. If your husband was a farmer then the land might be exempt...
  19. J

    Cohabitants' agreement and court application for support

    I think that it would be very unwise to write a will stating that the children get everything the your partner does not get. First of all let’s deal with the house. If they don’t own another house then the house should qualify for the “Dwelling House Exemption” and therefore be exempt from...
  20. J

    VAT on commercial rent

    It’s very straightforward. All leases are exempt except when you opt to tax them!!! Talk to your accountant, usually you opt to tax and the tenant recovers the VAT but there are exceptions.
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