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Complete Capital Gains Tax Self Assessment Form

Company:
Syed A.
Location:
Caterham, Surrey, United Kingdom
Posted:
April 09, 2024

Description:

CGT for a Land sale.

We acquired it on an options agreement therefore owned the rights to it for a period, but couldn't get the loan to purchase the site so gave it over to a new buyer and had the vendors solicitors pay me an Overage from the proceeds of the sale.

Overage £37,250.

Expenses about £15k on the site.

I believe it will be a 10% Capital Gains on Net gain (CGT allowance included). Require an accountant to deal with the CGT gain reporting.

Thanks

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