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Where Taxpayers and Advisers Meet

Search found 49 matches

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by dotto
Fri Apr 26, 2013 9:26 pm
Forum: Capital Gains Tax, CGT
Topic: Plots, self build, joint ownership CGT
Replies: 2
Views: 519

Plots, self build, joint ownership CGT

My questions are as follows and any help would be greatly appreciated. 1 My two sons and I purchased in equal shares a bungalow with a fairly long garden. 2 My eldest son and myself live in the bungalow, youngest son lives in a house nearby which is owned by himself and his brother and which has a B...
by dotto
Sat Apr 21, 2012 11:00 am
Forum: Capital Gains Tax, CGT
Topic: CGT on sale of plot
Replies: 4
Views: 631

Re: CGT on sale of plot

Hi
Your response has been a great help.

Many thanks for giving your time.

kindest regards

Dorothy
by dotto
Thu Apr 19, 2012 10:02 pm
Forum: Capital Gains Tax, CGT
Topic: CGT on sale of plot
Replies: 4
Views: 631

Re: CGT on sale of plot

I'm not sure of the exact area but its less than half an acre. The area is currently garden, mainly grassed.

Thank you
by dotto
Thu Apr 19, 2012 6:48 pm
Forum: Capital Gains Tax, CGT
Topic: CGT on sale of plot
Replies: 4
Views: 631

CGT on sale of plot

My two sons and myself live in and jointly own a property at the end of a longish drive, the drive having land running alongside one side of it for which we have obtained detailed planning permission for 2 detached properties. We have a buyer for the middle plot (plot 2) which lies between our prope...
by dotto
Sun Sep 11, 2011 11:45 pm
Forum: Capital Gains Tax, CGT
Topic: Joint venture with Property Developer tax implications
Replies: 8
Views: 2267

Re: Joint venture with Property Developer tax implications

We applied for pp in January 2011 and permission was granted in March 2011. Does this have relevance.

Thank you.
by dotto
Sun Sep 11, 2011 10:22 pm
Forum: Capital Gains Tax, CGT
Topic: Joint venture with Property Developer tax implications
Replies: 8
Views: 2267

Re: Joint venture with Property Developer tax implications

Thank you again. I have concluded that the contract the developer refers to has conditions ie if the houses are not sold within a specified time, then the plots remain in our ownership along with the houses. If this situation happened we would have to sell the houses ourselves (unless we lived in th...
by dotto
Sun Sep 11, 2011 9:15 pm
Forum: Capital Gains Tax, CGT
Topic: Joint venture with Property Developer tax implications
Replies: 8
Views: 2267

Re: Joint venture with Property Developer tax implications

Thank you for responding. My son and I live in the bungalow and intend staying there, unless there is a change in our personal circumstances. We bought the property because we loved where it is and also saw its potential for further development although the general feeling was that we would never ge...
by dotto
Sun Sep 11, 2011 2:57 pm
Forum: Capital Gains Tax, CGT
Topic: Joint venture with Property Developer tax implications
Replies: 8
Views: 2267

Joint venture with Property Developer tax implications

My son and myself purchased a bungalow in January 2010 and subsequently obtained planning permission to build 2 houses on the site, with the bungalow remaining. A developer has put forward a joint venture proposal whereby a contract is drawn up stating that he agrees to purchase the plots within a s...
by dotto
Thu Oct 08, 2009 12:09 pm
Forum: Capital Gains Tax, CGT
Topic: Business outbuildings included in PPR
Replies: 5
Views: 772

Re: Business outbuildings included in PPR

I am therefore now assuming that because the vendor has used the outbuildings as a business, and they belong to him, HMRC would not now allow him to include these buildings in his PPR. Would this mean I would have to purchase this part separately, and he would incur capital gains tax on the building...
by dotto
Wed Oct 07, 2009 4:59 pm
Forum: Capital Gains Tax, CGT
Topic: Business outbuildings included in PPR
Replies: 5
Views: 772

Re: Business outbuildings included in PPR

Thank you for your response. Can I take it then that it is OK for the whole site to be taken as PPR for the vendor. The vendor and myself have been to see an accountant who is supposed to be letting us have this information but getting hold of him is nigh on impossible - although I appreciate this i...

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