We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 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!
Capital gains tax or PRR arising on garden sale?
Options
sheilanick
Posts: 141 Forumite
I need some advice on the above, but uncertain which sort of specialist advisor could help.
I have planning for a new build in my garden, but have decided not to go ahead. A neighbour wants to purchase just part of the plot, without any planning permission. Will the fact that I have planning permission mean it attracts CGT, or can I claim PRR as I am only selling a strip of my garden, not big enough to build on?
I have planning for a new build in my garden, but have decided not to go ahead. A neighbour wants to purchase just part of the plot, without any planning permission. Will the fact that I have planning permission mean it attracts CGT, or can I claim PRR as I am only selling a strip of my garden, not big enough to build on?
0
Comments
-
The first key question is whether the total site (including the house) is 0.5 hectares or less. Is it?
The second key question is what amount are you selling it for, and roughly what proportion of the land is being sold?
You should read:
https://www.gov.uk/government/publications/private-residence-relief-hs283-self-assessment-helpsheet/hs283-private-residence-relief-20240
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.2K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.2K Mortgages, Homes & Bills
- 177K Life & Family
- 257.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards