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Legal Ease
Legal Ease, Lawyer
Category: Canada Law
Satisfied Customers: 37941
Experience:  I have been a lawyer since 1985 and have been a professional on this site for 5 years.
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I am selling a piece of land in Canada. Value about £50,000.

Customer Question

I am selling a piece of land in Canada. Value about £50,000. Can you suggest ways in which I can minimise payment of taxes (capital gains, etc.) both on the Canadian side of things and in the UK ( will be receiving a cheque here in the UK at some point)?
Submitted: 4 years ago.
Category: Canada Law
Expert:  bigduckontax replied 4 years ago.
Before I can help you any further on this question I need to know two things. What was the purchase cost of the land in the first place and has it ever been let? If it was let was the rental reported to HMRC?