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Q&As
CGT if selling garden for building
If I get planning permission for houses on part of my garden which is my main residence, do I pay CGT on the building plot if I stay living in my house? Or if I sell the house with the building plots together? Advice appreciated. Thanks
One Answer
When you sell either your whole property – house and garden – or just a part of the garden for development, you should be able to claim ‘principal private residence’ relief. The relief only applies to an area of 0.5 hectare, and the land must be domestic garden. Various other qualifications and provisos apply. It wouldn’t make any difference whether you sold the land first, or the house and plots together. The relief must be claimed and can’t just be assumed. It’s absolutely essential to take advice from an accountant to ensure you qualify.