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Our client is a land dealer who locates sites obtains planning consent and then sells on the project to large national builders. His profits are chargeable to income tax.
The builders have constructed a show home which they have offered to sell to our client at a significant discount and then rent it back from him at an attractive rate of return in the region of 10%.
Once the total site has been sold our client would be free to continue to let the property to a new tenant on a residential let basis or more likely he would sell the property and should make a reasonable capital gain in view of the initial discount given by the developer.
If our client opts to sell the property once the builders have vacated it do readers consider that the gain would qualify as...
