Garden2#
Joined: 7/26/2024
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CGT on sale of residential land
I have a plot of land on which I had a business growing tomatoes. This land has recently been designated as land upon which 2 residential houses can be built. If I sell this land to a property developer for them to build the 2 houses will I need to pay capital gains tax? If I do need to pay at what rate would this be? Thanks