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CGT split plot
Barlowboy
Posts: 1 Newbie
Hi, hope you can help. I am planning on buying a single plot of land that has a half built house on it and also planning permission for a bungalow (not started). My plan would be to buy the land, split the plot as I wish, sell the bungalow plot and finish the half built house. I would live in the house as my only residence (I currently own no other properties but have done in the past). I assume if I sold the bungalow plot soon after purchase (with no capital gain) there wouldn't be any CGT or any other tax due? Overall I just want to end up with the house plot (vendor won't sell the plots separately). I look forward to your comments-thanks.
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