![]() ![]() ![]() And when an asset is sold, the seller is liable to capital gains tax on the difference between the value of the asset when it was acquired and its value now. The collectibles community is fairly tight-knit and niche, certainly in Ireland, so it is likely that any valuation you have been given will be fairly accurate.įor a young man in his mid-20s, as you now are, a €25,000 windfall provides all sorts of options, from giving you the finance and the freedom to look at working or living abroad for a time to kick-starting a house deposit or even giving you the wherewithal to establish an early investment pot of your own.īut it does, as you suspect, bring with it a potential tax bill.Ĭollections of stamps and coins, like art or investment property, will be seen by the Revenue Commissioners as assets. As you now know, this was clearly a more valuable gift than anyone realised at the time, and that presents you with both an opportunity and a headache.
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