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Our client purchased his main residence in April 2007 and lived there until October 2012 when he let it out and moved into a rented property elsewhere.
He has obtained planning permission for the development and conversion of a disused farm building on his property into a residential property.
He is not proposing to develop the plot himself and he proposes instead to sell it in the next six months at a significant capital gain. In about 12 months’ time he will sell the residence itself.
The plot appears to meet all the fundamental requirements for only or main private residence relief being within the permitted area of garden and grounds and having been only ever used as such while in the ownership of the client.
The farm building was used for the recreation of his family and the storage of his family’s bicycles garden tools household...
