IPT

[samcat]

Dear Nigel
My wife and I jointly own a property the value of which on last years calculations was just within the threshold in which IPT had to be paid.

However on going to the Paphos tax office we were given the good news that as the property was in joint ownership we were not liable for tax as the value for each of us was only half of the whole and therefore under the threshold that tax was payable.

We have had no tax demand and wonder if it is safe to assume we will have nothing to pay this year.

We do have our title deeds.

Thank you for your help.

Best regards

Colin Mercer

[Nigel Howarth]

Hi Colin

As you bought in joint names and the 1980 value of the property is €25,000 or less, you will have to pay nothing this year. There is nothing you need to do.

Regards,