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cgt on building plot
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gnc
Posts: 8 Forumite
in Cutting tax
hello, hope someone can advise.
i bought a car repair workshop 9 years ago, have now got it re listed as residential ( certificate of lawfull use or existing development ) it has a yard at the side which isnt rated, i may be able to get planning permision for building one residential property.
my question is.would i have to pay CGT on it if i get the permision and split the deeds or is it better to sell as one with potential for building.
thanks in advance. geof
i bought a car repair workshop 9 years ago, have now got it re listed as residential ( certificate of lawfull use or existing development ) it has a yard at the side which isnt rated, i may be able to get planning permision for building one residential property.
my question is.would i have to pay CGT on it if i get the permision and split the deeds or is it better to sell as one with potential for building.
thanks in advance. geof
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