What judgemental/smart comments? I don't see any.
Transferring a site after house has already been built
- Thread starter jimmyheff
- Start date
Not sure where this idea of a tax bill for the mother came from when it was just a site being transferred.
www.revenue.ie
If you have evidence that you paid for the cost of building the house then I think there are possibilities in terms of how you would frame a submission to Revenue but there would be a bit of a scéal to be written and seeking clemency.
I also wonder if you're looking at a 33 acre holding ultimately then I'm not sure why there wasn't review of CGT relief and CAT agricultural relief and so on.
Transfer of a site from a parent to a child
This page outlines Captial Gains Tax Relief on the transfer of a site from a parent to a child
www.revenue.ie
If you have evidence that you paid for the cost of building the house then I think there are possibilities in terms of how you would frame a submission to Revenue but there would be a bit of a scéal to be written and seeking clemency.
I also wonder if you're looking at a 33 acre holding ultimately then I'm not sure why there wasn't review of CGT relief and CAT agricultural relief and so on.
It's not just a site being transferred; it's property with a finished house on it.
The mother is the legal owner. But are not the son and daughter-in-law the beneficial owners?
Just a thought. People don’t always die in order of age. Perhaps more of a risk for your wife.
If his mother owns the site (and house) was building the house a gift to his mother?
How are records regarding who paid / did the work on the house.
Sorry to hear about your difficult time.
If his mother owns the site (and house) was building the house a gift to his mother?
How are records regarding who paid / did the work on the house.
Sorry to hear about your difficult time.