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TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15979
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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Is cgt payable on land sales and at what rate

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Hi. CGT is payable on land sales but there are reliefs available depending on what the land is used for. Look at HS283 here for information on the main residence and CGT which also covers larger plots of land which some properties have. There are two rates of Capital Gains Tax, 18% and 28%. The rate or combination of rates that you will pay will be dependent on the level of your income in the tax year you dispose of the land or property. Look here for information on how to calculate the CGT rate or combination thereof which applies. If the land is used in a business, you may qualify for entrepreneurs' relief which you can read about here. I hope this helps but let me know if you have any further questions.
If you reinvest the sale proceeds from a business asset disposal into another business asset, the CGT can be deferred by making a claim for business asset rollover relief. Take a look at HS290 here for more information.