Exfarmer
Member
- Location
- Bury St Edmunds
I am afraid you are very wrongThe CGT should be on a taper. So in a 35 year lease the capital gain will be 100% in year one but diminishing in a straight line to year 35 when it’s worth 0%.
so I’m just a farmer not an accountant but that’s my take
So depends how long you think you’ll live I recon
I believe that normally to sell a chunk of land let out to a solar business you will be liable to 28% on any money you receive greater than the price you paid for it
Under certain circumstances you may qualify for business asset relief which would bring this down to 10%, but I am certain the scenario described would not qualify.
my understanding i currently there are no allowances for length of ownership.
it may be that land held before the late 90’s will qualify for the revaluation there was then.
of course land p[assed over at death will be revalued as of that date