Question asked:


Hello Alan
Listen I have an interesting query that came in from my client which I would appreciate your opinion
The details in broad terms are as follows
1. Client paid in 2006 €87k in full to purchase an apartment in a Turkish holiday development, it was the full purchase price.
2. The money was paid to the promoter a Dutch firm
3. This money was then to go to a Turkish developer to build and develop their apartment and others on site, this work was never fully completed and due to Turkish laws the unfinished development went into the hands of the Turkish govt in 2017
4. My client never acquired title on the property , the original developers/promoters did not refund the monies paid. He cant get back his money
He is interested to see if he could use the 87k as a capital loss, am aware of the S540 forfeited deposits clause was curious as to whether the fact that he paid the price in full with the full intention to purchase the property that s540 may not apply
If you need anymore info just give me a bell

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Asked on 10 December 2018 6:02 pm
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