We purchased a derelict building for the purpose of making into a home for the family. However, unexpectedly we recently had to pay out the money set aside for the conversion to settle with one of our ex's. To enable us to finance the conversion now, the best idea seems to be that we sell of some of the land as 2 plots with pp for 2 houses. We could not afford to finance such a large loan. Are we now going to fall foul of CGT even though we are not planning to profit and the house is just for us - it's our dream property?
What should we do?
Primary Personal Residence Relief or CGT?
2 posts • Page 1 of 1
by Ian McTernan CTA on Sun May 23, 2004 12:48 pm
Think you need to run through the whole situation with figures with a professional and pay for some advice- there are several options available to you dependent on your circumstances.
I would be pleased to advise on this matter.
Ian McTernan CTA
McTernan Associates Ltd
Chartered Tax Advisers
ian@imcternan.com
I would be pleased to advise on this matter.
Ian McTernan CTA
McTernan Associates Ltd
Chartered Tax Advisers
ian@imcternan.com
- Ian McTernan CTA
- Posts: 1131
- Joined: Wed Aug 06, 2008 3:02 pm
2 posts • Page 1 of 1
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