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Posted Wed, 21 Aug 2024 14:36:26 GMT by stu Sherry
I have built 3 terrace type cottages in the LAKE DISTRICT NP, to downsize into one and offer the other two for part purchase with a supporting gift allowance for our daughters. The build was completed as one project, approx £450k build costs, I already owned the land, I have built in the garden of the primary residence. Are CGT applied if built for family? Also I would have to sell all 3 before any profit is gained, how is this applied if I only sold 1 property?

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Posted Wed, 04 Sep 2024 13:03:58 GMT by HMRC Admin 25 Response
Hi stusherry,
Sorry, but more information is required on this and as such, cannot be answered on the forum.
You will need to contact the Self Assessment helpline for a definitive answer to be given.
Contact details here:
Self Assessment: general enquiries
Thank you. 

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