sunflower Posted January 5 Share Posted January 5 Hi all! We're currently living on our plot in a caravan. We have full planning permission but haven't started building the house yet. Circumstances have changed though, meaning we may have to sell up now Might anyone have the foggiest as to whether we'd qualify for Private Residence Relief on the plot, even though the house hasn't been built? Or would we be liable for full Capital Gains Tax? Grateful for any thoughts, suggestions, thank you Link to comment Share on other sites More sharing options...
G and J Posted January 5 Share Posted January 5 Do you or any of your joint owners now, or have you at any time during your ownership of the plot, owned any other property? 1 Link to comment Share on other sites More sharing options...
sunflower Posted January 5 Author Share Posted January 5 Ah, i may have answered my own question, it's a yes according to this on HMRC https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg64391#:~:text=You may conclude that a,(1)(b) TCGA92. Link to comment Share on other sites More sharing options...
sunflower Posted January 5 Author Share Posted January 5 3 minutes ago, G and J said: Do you or any of your joint owners now, or have you at any time during your ownership of the plot, owned any other property? Thanks for the reply; no we don't own any other residential property (our ltd co does own a commercial building) 1 Link to comment Share on other sites More sharing options...
Mr Punter Posted January 5 Share Posted January 5 No tax to pay. Good news. Hopefully you will get a decent price on the sale. Link to comment Share on other sites More sharing options...
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