I've read the Revenue website "Guide to CGT" and I did not see this term. However, I believe the only costs we are allowed to deduct from the amount subject to the 33% tax are Estate Agents fees and Solicitors Fees for the work done on selling the house including the costs of restituting title deeds. I'm unsure if I can deduct the LPT we paid for 2017 and 2018.allowable incidental costs of disposal.
However, I believe the only costs we are allowed to deduct from the amount subject to the 33% tax are Estate Agents fees and Solicitors Fees for the work done on selling the house including the costs of restituting title deeds.
I appreciate what you're saying but it's a very straightforward estate. House and State Savings. I've just now established that we cannot deduct for LPT. So I'm now going to complete the Payslip A and send a cheque for the 33% of the Gross gain in value less the EA's and Solrs fees to the Collector General in Limerick.That sounds about right. But you're crazy to be attempting this without proper advice if the figures in question are big enough to worry about.
I appreciate what you're saying but it's a very straightforward estate.
I think my opening post shows it's a straightforward estate.Your opening post suggests that the CGT isn't that straightforward. But it's your decision whether or not take risks. Good luck with it.
The Gross gain (sold price minus date of death valuation) was a significant 5 figure sum but the deduction of EA's and Solicitors fees brought it down to less than half the gross figure.you're crazy to be attempting this without proper advice if the figures in question are big enough to worry about.
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