Tax on Land Investment

pteebe

I am 80yrs old and am selling My Share of a piece of Land, i expect to get £12000 for it, How much Tax would i pay, Thanks

eskbanker

On the face of it, there shouldn't be any tax payable - asset disposals are liable for capital gains tax but if the gain is less than the annual CGT threshold (currently £12,300) then there's nothing to pay, assuming you're not disposing of any other capital assets during the same tax year.

https://www.gov.uk/capital-gains-tax

pteebe

Many Thanks for Your reply, that's exactly the Answer I was looking for, and so quick, Thank You.

                           Regards, pteebe