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Sam
Sam, Accountant
Category: Tax
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Thanks, your answer was very helpful. My Mother is not 100%

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Hi, thanks, ***** ***** was very helpful. My Mother is not 100% certain of the implications however, which I'd be grateful if you could clarify. She has a separate residence elsewhere in the city with her husband, and her original estate has been managed by others and myself since 1993. The land with the three plots was a single plot of agricultural/wasteground with no planning and a restrictive covenant. The value as such was maybe £300000 in its entirety. I've managed this year to get planning for three executive homes and we have got the covenant lifted at a cost. I propose she sells two plots at £200000 to a developer to build two houses for himself and his family, and the developer builds a third home for us, which I would live in as briefly as possible if necessary and then the developer would wish to buy the third house back at market value (£330000 - £350000). Does your reference to PRR still apply and can 'trading in land' be avoided by the fact that my Mother has owned the whole plot since 1976, albeit not lived at that estate since 1993, Thanks in advance, Alistair
Submitted: 11 months ago.
Category: Tax
Expert:  Nicola-mod replied 11 months ago.
Hello,
I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Nicola
Expert:  Nicola-mod replied 11 months ago.
Hello,
I apologise as we have not yet been able to find a Professional to assist you. Do you wish for me to continue to search for someone to assist you or would you like for us to close your question at this time?
Thank you for your patience,
Nicola
Expert:  Nicola-mod replied 11 months ago.
Hello,
Please understand it is rare for us not to be able to find the right Professional to assist our customers. We can close this question and return your good faith deposit to the original funding source on request.
Please let me know how you wish to proceed and again I apologize for any inconvenience this may have caused.
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Nicola
Expert:  bigduckontax replied 10 months ago.

Hello, Keith here, I am back after a one week hospital stay. Do you wish to continue?

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