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capital gains tax info
christine sanders
Posted: 24 January 2013 11:37:35(UTC)
#1

Joined: 20/01/2013(UTC)
Posts: 6

Thanks: 2 times
Hi

I inherited land in 2002 which could possibly be sold for building land in the near future, it was valued as agricultural land.

If land being sold was valued at £30000 in 2002, is that you value one can deduct for Capital Gains purposes or do you use todays' value ie + inflation.

If a deposit is paid ie 10% of the value of purchase to a solicitor but the sale doesn't go through until the following tax year, can the deposit be used for previous year tax purposes even if held with the solicitor and not paid to the seller until sale complete.

Can you carry forward last years capital gains allowance if not used, or any previous year if you had owned the land for 10 years without using capital gains allowance.

Thanks for any advice

Christine
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