B Bern78 Registered User Messages 24 13 Nov 2015 #1 I am in the process of getting a site transferred to build a house on from my mother- site is 1.2 acres. How much tax will I have to pay as I am over the 1 acre threshold and how much CGT will my mother have to pay
I am in the process of getting a site transferred to build a house on from my mother- site is 1.2 acres. How much tax will I have to pay as I am over the 1 acre threshold and how much CGT will my mother have to pay
J Joe_90 Registered User Messages 2,222 14 Nov 2015 #2 On the basis that it does not qualify for CGT relief your mother will pay CGT on the market value less costs. You will pay stamp duty and be subject to CAT subject to the threshold.
On the basis that it does not qualify for CGT relief your mother will pay CGT on the market value less costs. You will pay stamp duty and be subject to CAT subject to the threshold.