CGT Parents Down-Sizing

S

Supergod

Guest
Hi there,

My parents are selling their PPR in order to downsize to an apartment. They are having problems selling their house with the way the market is at the moment. The estate agent has suggested selling the current house as two seperate lots. 1 lot as the house itself and the other as the side garden to be sold as a site with OPP for 2 semis. I think it's a good idea but what position would this put my parents in with regard to CGT?

Thanks in advance for any help/suggestions.
 
As far as I know CGT would apply on the disposal of the site separate from the PPR. They should get independent, professional tax advice. And EA is not a good source of this sort of info/advice.
 
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