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Help Re CGT
luckichi
Posts: 57 Forumite
in Cutting tax
Hi, I was wondering if anyone had any advice
My sister has some land that she is selling to me & I was wondering how CGT would apply in this case.
The land cost her approx £10,000 over 10 years ago, the current market value of the land is approx £70,000.
The main issue is that we will not be paying her the full market value or any money upfront but be giving her say £3000 a year for the next ten years.
Any help is much appreciated as I am not too sure about indexation allowance or taper relief.
My sister has some land that she is selling to me & I was wondering how CGT would apply in this case.
The land cost her approx £10,000 over 10 years ago, the current market value of the land is approx £70,000.
The main issue is that we will not be paying her the full market value or any money upfront but be giving her say £3000 a year for the next ten years.
Any help is much appreciated as I am not too sure about indexation allowance or taper relief.
0
Comments
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hi again
I thought I might bump this up as I going to see an accountant on Friday for advice but I thought I would ask if anyone had any information, advice or questions that I should ask so I appear more clued up than I am, cheers.0
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