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JGM
JGM, Solicitor
Category: Property Law
Satisfied Customers: 11567
Experience:  30 years experience in property law.
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I am about to build on land that I inherited I t will be my

Resolved Question:

I am about to build on land that I inherited I t will be my main residence as I have
rented the last twelve years.
Q. WILL I HAVE TO PAY ANY CAPTAL GAINS TAX
Submitted: 3 years ago.
Category: Property Law
Expert:  JGM replied 3 years ago.
No you won't as you will get private residence relief at the date of the sale as it's your only or main residence you are building. There is no CGT to pay on an inherited plot. Any CGT would have been paid by the estate up to the date of death and as the plot is intended to be your home the issue of CGT doesn't arise.
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