Question asked:


Hi Alan, I have a client who purchased a house in 2007 for €180,000. He voluntary surrendered the house to the bank in 2018 and the bank sold it for €80,000. They agreed to forego the mortgage amount owing of €100,000. For CGT purposes is there a gain on the €20,000 written off by the bank? In relation to CGT on the house, is the sales proceeds the market value at date of surrender? Regards, Paul.

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Asked on 17 October 2019 9:58 am