Good morning! I wondered if anyone could help with the tax situation following my new build? The situation is this, in 2017 I purchased a house with a large garden, I moved into the house and lived in it as my PPR. I applied for planning permission for a bungalow in the garden which was granted! I have just finished completion of the bungalow ( it's all signed off my building control etc) and I've moved in!
This is my retirement home and I intend to stay put! Now I want to sell the existing house but what's the situation re capital gains tax? I understand it retains exemption for a certain period but for how long? And when does this period start? I also heard from a friend that the rules change in the new tax year? Any help much appreciated! Joe.
Hi everyone! Just to introduce myself, i'm currently building a new 2 bed bungalow in mid Suffolk. This is a self build for my own occupation, traditional build, brick block and tiled roof. I'll try to get some pictures up later! Thanks Joe