CGT on sale
Apologies, edits below:
My father has a small house in rural Cork which he doesn't use. It was put into joint names between my father and mother when my mother was alive, after my mother was gifted it from an aunt of hers in the early 1980s. The house was originally built in about the 1920s I think.
If my father now sells this, what CGT is he liable for (and/or are there other tax implications)? My usual understanding is that CGT would be payable on the sale proceeds less allowable costs less the purchase cost (indexed). However, in this instance, what becomes 'the purchase cost'?