Does anyone know, or can point me in the direction of someone who can let me know, what the potential tax liabilities are for a father gifting land to his daughter in Ireland please? He's owned the land since 1994.
Whats the nature of the land? Is it lived on? Be careful if not, a mate of mine bought a building plot and the local council have stung him a few times now with call out charges to repair walls and other really minor stuff but they charging him 800 euros a time!
Depending on value you may want to look into transfer of remaining interest. Can potentially get double the amount of inheritance threshold through using this. My understanding is Ireland is not like the UK with gifts.
