Hi there,
First time on the site (and what a great site). I was wondering if anyone could help me out here.
My local council have CPO'd some of my land (agricultural). Do I have to pay CGT on the whole amount or would a good tax consultant help me out? ie Are you allowed to plough a certain amount back into the farm before paying the tax?
I never wanted to give up the land and I find it outrageous that I then have to give 20% back to the government.
My intention is to do up an old farm building on the land and rent it out as a holiday let type thing.
Also can anyone recommend a good Tax Consultancy in the Meath Area. I'm totally green to this and somewhat paranoid after dealing with sharks involved in CPO's.
Many thanks
MG