CGT fugures were inaccurate

I STAND corrected by Dave Coleman’s letter (Irish Examiner, February 4) in relation to capital gains tax (CGT) relief on compulsorily purchased land.

He says this relief “was abolished for disposals after December 3, 2002 by the Finance Act 2003 (with some transitional arrangements)”. Unfortunately, my reference source was evidently inaccurate.

May I suggest that Mr Coleman arrange for his department to update its leaflets to record clearly that such relief has been abolished for compulsory purchases made in the last few years.

Jackie Healy-Rae was right, after all. My apologies to him. If CGT is chargeable on compulsorily purchased farm land when the money has to be reinvested to purchase replacement acres, it is entirely iniquitous.

Donal Fellows

ul.Prosta 70

Warsaw

Poland.