capital gains tax

[notaclueabou]

I have a quick question. I sold my PPR in 2000. When I sold it I kept most of the garden hoping to get planning permission or it but that never happened. I have now decided to sell the garden to the original purchaser of the house. Can I get an exemption from capital gains tax. And if not how do I calculate the tax payable

 

[asdfg]

Can I get an exemption from capital gains tax.

/

I doubt it. If you were looking for planning premission a new folio was probably raised.

And if not how do I calculate the tax payable

Selling Price
less selling expenses (legal & auctioneers)
less expenses in splitting the property
less planning expenses
This is the capital gain
less capital allowance if not already used 1,270
Capital gain tax on balance @ 20%

 

[woods]

I wonder if there was a residual value in the garden at the time of the split that could be used to reduce the tax.
If you could prove that part of the price that you paid when you originally bought the property was for the garden then you could reduce the tax.

 

[Ham Slicer]

For PPR relief to apply the land should have been sold with or before the house (subject to 1 acre rule).

Because it is being sold after, it will be subject to tax, regardless of who you sell it to.