Capital Gains Tax?

D

Dellgirl

Guest
My ex-fiancee and I bought a house togeather. Weve split up and now I need my brother to buy him out to stay int he house.
I have a few questions and Id appreciate any help anyone can give me as this is all awful.

Will he have to pay CGT on the profit hes made?
Will there be any tax implication on my brother besides losing his FTBs status? Or on the ex?
is there any website I can go to to look all this up?

All help appreciated.
Thanks.
 
I am assuming that the property was your joint PPR until splitting up and not an investment property.
Dellgirl said:
Will he have to pay CGT on the profit hes made?
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Presumably not if he sells his share within 12 months of vacating it as his PPR.
Will there be any tax implication on my brother besides losing his FTBs status?
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Stamp duty may be an issue on the purchase unless any exemption applies.
Or on the ex?
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Don't think so.
is there any website I can go to to look all this up?
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www.revenue.ie
 
Thanks Clubman.
Yes it was our PPR.
Thats good news.
Thats bad news.

Ive never been in a situation like this before and certainly wasnt expecting this so feel a bit lost in it all.
My brother would have to pay stamp duty on his half of the purchase? His input would be about 230.
 
Clubman is correct. No capital gains for ex as he's selling PPR. No stamp duty for brother as he's FTB and amount (230) is under 317,500 threshold.
 
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