Selling 2 semis

Jun 30, 2005 3 Replies
H

About 10 years ago I bought the other half of a semi my family were living in, and knocked through to make the two semis effectively one detached house. During this 10 year period the combined semis have been our home, and we have not had any tenants etc.



The time has come to sell, and I would like to know if I can sell 1 semi, without attracting any capital gains tax. I plan to stay in the other semi for a year or two before moving to another part of the UK.



Any advice gratefully received!



Harrison.


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T

Not that I know its a definitive guide, but are you paying two different sets of council tax, water rates etc?

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H

I am paying: 1 set of council tax, 1 water charge and 1 phone line, but 2 gas bills and 2 electricity bills.

Harrison

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R

This seems very similar to the situation where someone sells part of their garden to a developer. If this is done whilst ownership of the house and the remainder of the garden remain with the seller, then no CGT is payable either on the sale of the (part) garden or the eventual sale of the house.

However if the house and part of the garden were to be sold first, with the seller retaining ownership of the remainder of the garden, then there would be a CGT liability on the eventual sale of the remainder of the garden.

Rgds

__ Richard Buttrey Grappenhall, Cheshire, UK __________________________

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