Any ideas on the following scenario - I thought I wasn't liable for tax but I am concerned now that I may somehow be liable. Gifted site 8 years ago from the folks. Intention to build which for various reasons couldn't go ahead. Sold last year for less than half the price it was valued at when it was transferred to me by my parents. Never occupied by me in this period. I thought I wouldn't be liable as the value of it had fallen and not gone up, but not sure on this - can anyone with greater knowledge clarify?