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  • I have finally found a plot of land for which the owner has not flat out said no to the possibility of selling it.

    The issue is that she will have to pay Capital Gains Tax on the sale. In this area, I have little to no knowledge. I'm wondering whether it'd be best to contact an accountant or solicitor? One idea is that we would cover the CGT in the overall offer but this is dependent on her asking price.

  • It depends how straightforward it is. If she just bought the land, did nothing to it and then sold it to you then it's easy for you to calculate.

    If it's part of a bigger parcel of land, money has been spent on it, etc then it's more complicated and you may need professional advice.

    Similarly, is she doing a straightforward PAYE job or are there other things that will give rise to CGT. E.g. selling land/properties/shares/bitcoin. Are you going to get the benefit of her personal allowance?

    Does she already have someone do a tax return for her? If so that would probably be the best person to speak to (she'd need to give permission).

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