My share of my parents estate of £10,000 Irish Pounds was used to assist with the purchase of a new home for my siblings. I have never lived in the property and have never contributed to the mortgage payments even though my name was on the original mortgage.
I have agreed to sell my share to my sibling for 10% of the current market value which is approximately €300,000. Can you tell me if I am liable for CGT on the difference between my original contribution of £10,000 and the 10% valuation now of €30,000, or would the CGT be based on the fact that I originally owned a one third share of the property.
I have agreed to sell my share to my sibling for 10% of the current market value which is approximately €300,000. Can you tell me if I am liable for CGT on the difference between my original contribution of £10,000 and the 10% valuation now of €30,000, or would the CGT be based on the fact that I originally owned a one third share of the property.