Revenue targets first time buyers who get help from parents

First-time buyers who receive a contribution from their parents towards a house deposit could face tax bills that run to tens of thousands of euro, due to the latest clampdown by the Revenue Commissioners.

Under revised tax rules, the Revenue Commissioners are zeroing in on adults in receipt of financial support from their parents.

Tax experts have warned that the Revenue’s renewed focus on capital acquisitions tax could lead to significant tax liabilities ...