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let to a farmer who bought it fair price
again.Assuming you never farmed the land or if you did farm it as part of a farm business, that business ceased trading more than three years before you sold it, your gain will be calculated by taking the 31 March 1982 value of the land and deducting it from the disposal proceeds along with the costs of disposal such as legal and professional fees, etc.
I doubt you will be able to get main residence relief as a part disposal if the land was part of your home due to the size of the land sold and the fact that it was let.You will need to find a land agent who can give you an accurate valuation of the land as at 31 March 1982 as HMRC may pass any calculation you submit to them to the District Valuer who will do his own valuation which may differ significantly from yours.Once you have the gain figure, the first £11,000 will be exempt from CGT and the net taxable gain will be charged to CGT at 18%, 28% or a combination of the two rates depending on the level of your income in 2014/15. One of the following scenarios will apply:1 If your income in 2014/15 including the net taxable gain is £41,865 or less, then all the taxable gain will be charged to CGT at 18%.2 If your income in 2014/15 excluding the net taxable gain is £41,865 or more, then all the taxable gain will be charged to CGT at 28%.3 If your income in 2014/15 excluding the net taxable gain is £41,865 or less but more than £41,865 when you add the net taxable gain, then part of the net taxable gain will be charged to CGT at 18% and part at 28%.I hope this helps but let me know if you have any further questions.