P
paddydriver
Guest
Hello,
My Dad is planning on selling the family home as we are all now living elsewhere and he has also moved to a smaller place.
He owns it approx 40 years but has not lived there for about 8 years. I lived there on my own for approx 6 and he has rented it for last 2 years.
Is there any simple way of calculating how much CGT he may have to pay if he sells this year? - Am thinking that if he sells it for example €500k then roughly speaking he will pay 25% CGT on approx 20% of the gain? - i.e. based on 8 years not residing there being 20% of the time he owned it but not it being his PPR.
Thanks for any help provided.
Regards
Paddy
My Dad is planning on selling the family home as we are all now living elsewhere and he has also moved to a smaller place.
He owns it approx 40 years but has not lived there for about 8 years. I lived there on my own for approx 6 and he has rented it for last 2 years.
Is there any simple way of calculating how much CGT he may have to pay if he sells this year? - Am thinking that if he sells it for example €500k then roughly speaking he will pay 25% CGT on approx 20% of the gain? - i.e. based on 8 years not residing there being 20% of the time he owned it but not it being his PPR.
Thanks for any help provided.
Regards
Paddy