• Capital Gains Liability

    By Guest on 10th May 2016

    I'm thinking of selling my house and retaining half the garden to build a new house. I would like to understand the tax implications.

    I've read extensively but can't find this exact situation. The garden I would keep is 1400 sq m so it is less than the 0.5 hectare limit. I know that I could sell the land before the house and avoid CGT; and I know that I would be liable for CGT is I sell the land after the house. However, I want to know what happens if I (a) sell the house and retain the land; (b) live in rental accommodation for a year or so whilst building a house; (c) move into the new house and live there for a few years (i.e. it would become my primary residence).

    Are there any tax liabilities?

  • 2 Answers

    By Guest on 10/05/2016

  • By Guest on 05/06/2016

    Thanks for your enquiry however this isn't really the right forum for complex tax issues. If you do find the answer though, please come back and post it!

    Thanks

    FCA

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