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Where Taxpayers and Advisers Meet

Cap Gains / income tax on PPR

Mrswiggins
Posts:1
Joined:Tue Jan 04, 2022 11:27 am
Cap Gains / income tax on PPR

Postby Mrswiggins » Tue Jan 04, 2022 11:32 am

Hello,

I would love some advice on the following:

Our main principle private residence sits in a plot of under 0.5hectares. We would like to sell part of the garden as a building plot. As I understand it, if the main curtilage of your garden is under 0.5h then the sale of the land is not subject to cap gains. However, if we sell the plot will we be subject to paying income tax on this and if so at what rate?

Many thanks for any advice!

Jenny

pawncob
Posts:4879
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Cap Gains / income tax on PPR

Postby pawncob » Wed Jan 05, 2022 11:06 am

No. I.T. only applies to income.
With a pinch of salt take what I say, but don't exceed your RDA


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