Re-Investing Profits

[SNOOP101]

Hi,
A friend and I are interested in investing in a Eastern European scheme where investors can get in at the development stage.
If we set up as a Partnership, and make a profit, where would we stand from a GCT perspective ? Would we get hit for 20% ? Also, can we re-invest the profit without taking a tax hit ?

 

[ClubMan]

Also, can we re-invest the profit without taking a tax hit ?

If you are talking about rollover relief on capital gains this was abolished in Ireland a few budgets back.

 

[SNOOP101]

Knew I should have kept reading the SBP !
So after we sell our units in the development company (when the apartments have been sold), we are liable for CGT straight away ?

 

[ClubMan]

Knew I should have kept reading the SBP !
So after we sell our units in the development company (when the apartments have been sold), we are liable for CGT straight away ?

Under Irish rules this would be the case - yes.

 

[RainyDay]

You may well need professional advice to fully assess the impact of taxation in the country of the investment - you could possibly be hit for taxes both there and in Ireland.