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Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 13858
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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If I have purchased a property 11 years ago and built a new

Customer Question

If I have purchased a property 11 years ago and built a new house attached to it over the same period of time what kind of tax will the project attract if sell one property this year and one next year
Submitted: 8 days ago.
Category: Tax
Expert:  Sam replied 8 days ago.

Hi, Sam here , one of the UK tax Experts here on Just Answer, thank you for your question and I shall reply shortly

Expert:  Sam replied 8 days ago.

HI

You would attract capital gain on the new build when sold and would be considered for capital gains on the existing property - but had the existing property been your main residence throughout ownership then any gain would be exempt under the private residence relief rules so just a gain on the hosue built -

Let me know if I can assist further

Thanks

Sam

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