Taxation logo taxation mission text

Since 1927 the leading authority on tax law, practice and administration

Readers’ forum: Capital gains

28 September 2021
Issue: 4810 / Categories: Forum & Feedback
Reporting on sale of farmhouse and outbuildings.

My client is in the process of selling their main residence which consists of a farmhouse 30 acres of farmland and four residential outbuildings.

The residential outbuildings were converted from barns and an old stable block. The sale of the house farmland and residential outbuildings are all being sold as one single transaction.

When reporting the capital gains tax on the sale of the outbuildings can readers please advise whether I need to report the gain on the outbuildings as one disposal or do I need to report the gain on each property separately; in other words make four separate UK property capital gains tax returns?

I also assume that as the farmhouse is fully covered by only or main residence relief that part of the disposal does not need to be reported within 30 days of the completion?

I look forward to...

If you or your firm subscribes to Taxation.co.uk, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.

Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.

back to top icon