T
TomB6
Guest
Hi
Does anyone know anything about capital gains tax?
My partner died recently, leaving her house to me. I have no interest in any other property, other than my sister's, who I helped get a mortgage about 5 years ago by adding my income statements with hers to enable her to get a sufficiently high mortgage. We signed papers at the time saying that I held a nominal 1% interest in the house as my name had to be put on the deeds.
However, someone has told me that I could now face a capital gains or capital acquisitions tax bill on my partner's property, which I have lived in for 15 years, because of my interest in the other property.
Is this true? Will Revenue really assess the full amount?
thanks
Tom
Does anyone know anything about capital gains tax?
My partner died recently, leaving her house to me. I have no interest in any other property, other than my sister's, who I helped get a mortgage about 5 years ago by adding my income statements with hers to enable her to get a sufficiently high mortgage. We signed papers at the time saying that I held a nominal 1% interest in the house as my name had to be put on the deeds.
However, someone has told me that I could now face a capital gains or capital acquisitions tax bill on my partner's property, which I have lived in for 15 years, because of my interest in the other property.
Is this true? Will Revenue really assess the full amount?
thanks
Tom