CGT inheritance query

taxistaxing

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Family home built circa 1970 inherited in 2010 by 3 siblings.
house valued at the time of name transfer to siblings at 300K
expect to sell for 350K
house vacant since 2010
What CGT is liable? how is i calculated?

separate question in relation to earlier post . Expenses incurred on sale can be written off against cgt , can expenses incurred e.g. solicitor fees on purchase of apartment be included in expenses?
 
Proceeds less cost of sales less value at date of acquisition plus costs of acquisition divided by 3 less €1,270 x 33%.

350k - 5k - (300k +5k) = 40k / 3 = 13.3k - 1,270 = 12,063 x 33% =€3,981.
 
Proceeds less cost of sales less value at date of acquisition plus costs of acquisition divided by 3 less €1,270 x 33%.

350k - 5k - (300k +5k) = 40k / 3 = 13.3k - 1,270 = 12,063 x 33% =€3,981.


thank you for the calculation. Probably a silly question but is that the total CGT or for each of 3 people.?
 
thank you for the calculation. Probably a silly question but is that the total CGT or for each of 3 people.?

Yes it is a silly question - look at him telling you he's dividing the gain by 3, and then dividing the gain of 40k by 3 in the calculation...! ;)
 
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