Hi,
In 2010 I bought some agricultural land with a view to building a house on it. I got planning permission but was unable to go ahead and build. I have recently agreed to sell the land which still has planning permission on it. I am selling the land for €4,000 more than what I paid for it. When I include the cost of purchasing the land, obtaining planning permission and now the cost of selling the land I have actually made a loss. Am I liable for CGT on the €4,000 difference or can I write my various costs off against this. I am a PAYE worker and have never had to make any tax returns. Do I have to make a CGT return and how do I do this?
Thanks.