hi......this is the senario.... i will purchase/inherit site from parents, build on same and sell. i belive that i will be laible to cgt of 20% of net profit.
So if i buy site for 130k from parents i can offset this against profit ?
What tax implications are there for parents then ?
Am i liable for stamp duty on site?
If i am gifted site under inheritance what taxes do i/parents pay ?
thanks for any info....
So if i buy site for 130k from parents i can offset this against profit ?
What tax implications are there for parents then ?
Am i liable for stamp duty on site?
If i am gifted site under inheritance what taxes do i/parents pay ?
thanks for any info....