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Tax on Land Investment
pteebe
Posts: 3 Newbie
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
0
Comments
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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
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Many Thanks for Your reply, that's exactly the Answer I was looking for, and so quick, Thank You.Regards, pteebe0
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