Cam

Thank you that clears it up. One last thing, can I still offset a portion of the original purchase price. Many thanks

Thank you for taking the time to reply. That’s all a bit much for me to get to grips with. So basically as opposed to offsetting the cost of the part cost of the original purchase, I am liable for CGT on the sale of the land the house was built on is that correct? Many thanks

I purchased our main home 2004 with 2 titles. In 2011 we built a house on the piece of land with its own title which has been a FHL until now when we sold it. Until we built, this piece of land was not separated from the main property. My question is can we apportion part of the original purchase price to offset against CGT on the sale of the FHL The original purchase was for the two titles combined. Many thanks in advance.

Morning I purchased our main home 2004, it had a price of land with an old cob barn, it had a seperste title. In 2011 we built a house which has been a FHL until now when we sold it. My question is can we apportion part of the original purchase price to offset against CGT on the sale of the FHL The original purchase was for the two titles combined. Many thanks in advance.