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CGT rate on Land

Posted Thu, 07 Sep 2023 12:46:05 GMT by
We have sold some land and need to pay CGT. I have calculated the taxable amount but am not sure on the rate. The land is a field with no residential buildings on it or previously on it. The purchaser has no intention of building a residential property. Am i correct in thinking then the tax rate would be 10% rather then 18% (2022/2023).
HMRC Admin 19 Response
Posted Mon, 18 Sep 2023 10:23:26 GMT by HMRC Admin 19 Response
Hi,

Residential property and land is taxed at the lower rate of 18% and the higher rate of 28%, unless Business Asset Disposal Relief can be claimed.  

Non residential property and land is taxed at the lower rate of 10% and the higher rate of 20%.

Thank you.

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