Transfer site - Conveyance expert?

Hello,

My father has kindly offered to transfer some of his land over to myself and my husband so that we can build a house. However the land is valued at more 254,000 so there will be a considerable CGT liability.

Can anyone reccommend who I should talk to about minimizing this cost. At this point we have talk to a solicitor but he doesn't seem to be very experienced in this type of matter.

Are we better to go to a solicitor or a tax consultant??

If anyone has gone through this process I'd really like to hear your experiences.

Many thanks,

hanosul

Your father is the one with the CGT exposure so he should talk to someone.If your solicitor is not experienced in this area, then obviously go for a tax expert- I would think a tax consultant is the way to go. It really depends though on whether your father already has an accountant and if they are familiar with CGT.

hanosul said:

Hello,

My father has kindly offered to transfer some of his land over to myself and my husband so that we can build a house. However the land is valued at more 254,000 so there will be a considerable CGT liability.

Click to expand...

If its a tax problem you have then its a tax advisor you need.

It must be some site if its valued at over €254,000!

Maybe consider asking him not to transfer all of that site to you at first so that he can avail of the transfer of a site relief? He can always give / sell the remainder to you at a later date.

If he is planning to transfer all of his land to you at some stage he may be eligible for retirement relief.

Speak to a tax advisor about this to see what options might be available to you.

..