steveb

Thank you for the response, It is agricultural land (sheep grazing).Which leads to my follow up question ,So under the current rules does it need to be included as a disposal in the annual Self Assessment return for the relevant period or do we not report anything until after it is actually sold at some point? I appreciate the rules may change in the future .

Three family members own a field as tenants in common in unequal shares , vis 1/2 , 1/4 ,1/4.The value of the field has increased significantly since we have owned it .The rent we receive is split in proportion to our shares We are intending to switch to a joint tenancy ,which i believe will alter our beneficial interests from our current shares to each of us having 1/3 and we will split the rent accordingly. Is this a disposal for CGT purposes that we are required to report within 60 days ? Thank you.