CGT on sale of strip of land that is part of principal private residence

boltownes

Registered User
Hi, my neighbour wishes to buy a strip of land that is part of my principal private residence. Will I have to pay tax on the sale? I don't have any other properties. Thanks in advance!
 

RedOnion

Frequent Poster
What's the story if the house wasn't the PPR for the entire period of ownership?
The exact same as CGT on disposal of house.
A cost price would have to be calculated for the portion being sold, and the gain allocated over years it was PPR would be exempt, with final 12 months deemed PPR.

So if you owned for 10 years, and lived in for the first 5, then 6/10 of the gain would be exempt.
 
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