capital gains tax

[bellavista]

we have just moved in to our new home. we are thinking about selling some of our garden off as a building plot. if we do will we have to pay capital gains tax ?

[dzug]

I found this online:

If your main residence has a large garden, you might be able to sell part as a building plot. If your total original plot was less than 1/2 hectare (a little more than 1 acre) then the sale proceeds of the building plot should be CGT exempt

However, if you've only just moved in what gain will you have made to tax anyway?

[kags]

Depends on the overall size of the garden - if it is less than half a hectare (which is just over an acre) then there will be no Capital Gains implications.