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Posted Mon, 04 Nov 2024 07:01:39 GMT by Mariad
if a uk resident sells a plot of land abroad which is undeveloped.....no buildings, no usage whatsoever, no utilities, what is the CGT rate charged on any gain? I had read on a past post...over a year ago...that the rate for undeveloped land is 10%. Please can you clarify and refer me to the HMRC regulation that covers this
Posted Thu, 07 Nov 2024 15:40:20 GMT by HMRC Admin 34 Response
Hi,
It depends on the date sold and your normal rate of income tax.
For guidance please refer to:
Capital Gains Tax rates
Thank you

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