CGT or Income tax

I haev a site which i am going to sell. it is zoned res and comm. I tried to get planning on it but failed so i'm letting it go. Will i be charged 20% cgt or 25% on the commercial part of the land? Also am i allowed the expenses for planners and site surveys etc against the CGT calc or do they carry forwad as a loss to be offset against future profits.

I have this land in a company's name.

Can anyone help. Obviously i will be getting prof. advise but would like a heads up first.

Thanks in advance

You need professional advice as the fact that a company owns the property will complicate the tax position on disposal. You may well end up paying CGT AND Income Tax on the proceeds

ubiquitous said:

You need professional advice as the fact that a company owns the property will complicate the tax position on disposal. You may well end up paying CGT AND Income Tax on the proceeds

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Agree... in general it is not advisable from a tax perspective to hold property in a company name.

yes i am aware of that advise but at the time i did seek professional advice and it was the best option for me.

thanks for the words of wisdom.