Royal_Blue
Registered User
- Messages
- 2
This sounds like a nonsense.
There can't be both CGT and CAT on the incremental €3,000.
You either pay CAT on the €10,000 (ignoring your threshold) and CGT on the €3,000, or CAT on the €13,000 and no CGT.
It's too late for that -the land is already sold.Are you sure you do not qualify as 'farmer'? Perhaps you need to talk to a tax advisor.
This is a common problem when inheriting any assets that you then propose to sell on. I was caught be the information given to me when I was asked to value a house which was to be sold after. If I was informed of the consequences I would have had the probate value higher but alas when the time came to sell the house a capital gain was on it and so the mafia taxman got a piece.
You should still talk to a tax advisor. Otherwise, this is shaping up to be a mess and you need robust advice to avoid being ripped off.It's too late for that -the land is already sold.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?