Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Sun, 17 Sep 2023 20:58:21 GMT by
We own the freehold of a former Sui generis property which was purchased derelict 6 years ago. The ground floor was converted into A3 commercial use and the first floor was converted into a flat and has been used as our primary residence approximately 15 months after purchase and only home ever since. We own no other property. We are currently applying to extend our residential dwelling into the commercial space below (A3 commercial use) due to our growing family and more rooms required. Should we sell, what would the capital gains tax implications be?
Posted Wed, 27 Sep 2023 10:05:18 GMT by HMRC Admin 10 Response
Hi
We cannot comment on future events as legisltation and/or circumstances may change.
Based on current legislation, a gain would occur on the A3 section of the property as this was not part of your main residence for the whole period of ownership.

You must be signed in to post in this forum.