Hello all,
My client sold a parcel of land & contracts were exchanged on 30/03/07.
This would normally be the date used for CGT.
But the sale was conditional on obtaining planning permission. The sale was completed on 11/04/08.
My understanding is that as the contract was a conditional one then i will have to use the later completion date for CGT purposes?
A colleague of mine seems to think that the date for CGT would be the date the condition is satisfied ( i.e planning permission granted). This was agreed prior to 05/04/08.
Trying my best to push this sale back into 07/08!!
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