We have a garden plot (approx. 1/3 acre) with planning permission for 3 local occupancy houses.
Originally we intended for one house to be for our disabled son and the other 2 to fund the build. However not done anything yet other than get planning permission, which runs out this autumn.
Looking at renewing planning permission (we are at the edge of national park), which seems to involve doing the whole planning application again.
However, we are told that we should simply start the work by installing say a drain and manhole, thereby negating the need to go through the whole planning process again...
However, from a taxation point of view what would starting the work mean?
It is my understanding that we could currently sell the garden plot with planning permission (but no works started) and the sale would be covered by our PPR allowance (ie no CGT implications).
If we were to 'start' work does that automatically mean that we are liable for CGT on any subsequent sale of the of the plot (even if we did no more work than a drain and manhole)?
Apologies, but we cannot seem to get our heads around the current rules regarding disposal of garden plots. Plus in such a rural area, we have not got easy access to tax advisors who can help.
Thanks for any helps and advice!
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