I don't mind waiting. Thanks, ***** ***** is a fairly simple capital gains tax question.
Thank you for this. However, if we move into the Coach House after we sell our main house, making that our primary residence, and keep the 'building plot' as the garden, can we not sell the part of the garden which is then a building plot as part of our house? If the answer is no, how will they value the building plot, as selling this separately reduces the value of the coach house, and the main house, albeit not by as much as the gain, but we would not have a net 'gain' of exactly equivalent to the price of the building plot.
PS I did not receive this answer until today. I had no message on my e mails to tell me it was waiting for me to read.
Sorry, but I still don't quite understand.
Our intention is
1. to gain planning consent for the Coach House to become a separate dwelling, and for another property to be built on the orchard.
2. To sell the main house with a smaller garden and to move into the Coach House as our main residence, with the benefit of the orchard as the garden.
3 To then sell the orchard as a building plot, and continue to live in the Coach House.
Can you tell me whether we would need to pay capital gains on the building plot, and if we could claim the reduced value of the Coach House in mitigation, as clearly, the value of the Coach House with a garden will be a lot higher than one without.
Sorry to be a pain, but I would appreciate it if you could spell this out clearly to me.
Thank you. I understand now.