ro5han

I am the freeholder to a house which was converted into 2 flats with 2 leases, also owned by me. We would like to surrender the leases, leaving only the freehold. No cash will change hands, and titles to freehold will remain the same. What is the capital gains tax and stamp duty implications of this transaction?

Hello, I am the leaseholder of the only two flats in a converted house. I also own the freehold. I would like to surrender the leases and move to only owning the freehold. Would this transaction crystalise any capital gains today? Would it affect the total CGT due today or in the future? Thanks