CGT on site

ggalrossy

Registered User
Messages
11
Hi, looking for some advise re CGT. We recently purchased a site for cash plus a site I had inherted about 10 years ago. The site is now valued at 50k but on inherting it from my parents, it was about 10k. Since we basically moved location by swapping the site, are we liable for 30% CGT on the 40k difference ? I know relief is €1,270 per individual and we can add the costs of transfer but we wanted to double check if anyone knew if we were liable as first time builders/buyers or if there is any other information I may not know off.
 
A site in 2002 valued at €10k now worth €50k, me thinks the original value is very low. Is it part of a larger parcel of land you inherited?

If so then there is a part disposal computation where you take in the total value of the entire parcel and you get a greater base cost.
 
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