Hi, I am a resident of Ireland and have been paying employment taxes since 2007. My parent's property which is located in Northern Ireland was signed over to me and wife's name in 2011 (via a solicitor) and estimated value back then was approx €85k - although no professional valuation performed.
Not sure if I should have taken any action back then to let tax authorities know (in either side of border).
As time moves on this is a weight on my mind in case there is a tax liability looming, can anybody advice me on how to put my mind at rest, and if there is any action I need to carry out as regards letting authorities know about this? Perhaps nothing needs to be done unless I am selling on as which point a CGT tax might be liable.
Not sure if I should have taken any action back then to let tax authorities know (in either side of border).
As time moves on this is a weight on my mind in case there is a tax liability looming, can anybody advice me on how to put my mind at rest, and if there is any action I need to carry out as regards letting authorities know about this? Perhaps nothing needs to be done unless I am selling on as which point a CGT tax might be liable.