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Alan, I am completing a capital gains tax calculation relating to lands inherited by my client in 1979. As expected, he has no actual confirmation of the land valuation at the time. We have obtained a professional valuation for the estimated market value of the land at that time, which values same at £1,900 an acre. This would appear reasonable in relation to the published IPAV land valuations for Ireland in that year of £ 2,797. The land is of good quality. In your opinion, in the event of a revenue inspection of the return for the year, would our valuation used be acceptable. Would stamp duty have arisen on the inheritance back in 1979, or would it have been exempt given it was passing on death? Many thanks, Paul

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Asked on 7 April 2020 8:50 pm
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