We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Tax payable by freeholder on extension of leasehold?
gipsybabe
Posts: 14 Forumite
I’ve recently purchased the freehold of the building I live in for £10K which has two flats. I am the leaseholder of my flat. The other leaseholder will be extending her lease soon. Will I be liable for CGT or any other tax on the £5K cost of her extension . Thank you.
0
Comments
-
Any forumites able to advise? Thank you.0
-
depends on lease length and method of "extension", but it is taxable
HS292 Capital Gains Tax, land and leases (2023) - GOV.UK (www.gov.uk)
lots of other guidance via google
Tax and residential lease extensions - Edge Chartered Certified Accountants (edgeaccountants.co.uk)
come back if you can't understand specific points
1 -
Thank you Bookworm1050
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.4K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.2K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards