I am considering selling a small shop I own. I bought it 10 years ago for approx. €20,000. I spent roughly €7000 on maintainance over the years and expect to get about €185,000 for it. Can anyone give me a rough idea of the CGT I might have to pay?...thanks.
As a general rule expect to pay CGT somewhere in the region of 15-19% of your gain. CGT is charged at 20% but there are some deductions you may claim. You should get professional tax advice in order to minimise, or if you're lucky, maybe even eliminate entirely your liability.
As a general rule expect to pay CGT somewhere in the region of 15-19% of your gain. CGT is charged at 20% but there are some deductions you may claim. You should get professional tax advice in order to minimise, or if you're lucky, maybe even eliminate entirely your liability.