This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

CGT due on 'sale' of storage unit?

zebrafish
Posts:1
Joined:Sat May 23, 2026 8:03 pm
CGT due on 'sale' of storage unit?

Postby zebrafish » Sat May 23, 2026 8:14 pm

The freeholder of the block I live in consented to allow one of the leaseholders to construct some storage units in a communal area (previously unused).

Each leaseholder in the block was provisionally allocated one storage unit each. The leaseholder who built them offered to purchase any unwanted units from the other leaseholders for a set premium. I am thinking of selling my unit and this will be formalised in a new lease plan for each of us. The unit has never been owned by me, the transfer is from the freeholder to the leaseholder. If I accept the premium, it will come directly to me from the leaseholder who buys it.

Is this a CGT triggering event?

Return to “Capital Gains Tax, CGT”