I own a site upon which a house has been built by a developer. The house is now about to be sold and there will be separate contracts with the buyer for land and build elements and Vat included etc. I will be liable for CGT on the site portion, but I'm carrying a capital loss from a previous investment property sale.
Since both transactions relate to property, am I correct in thinking that I can use the existing loss to offset the new gain?
Since both transactions relate to property, am I correct in thinking that I can use the existing loss to offset the new gain?