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Capital Gains Tax Agricultural Land

Lime Tree Farm · 2019-11-20 06:43:09

Is there an alternative to paying Capital Gains Tax for someone who inherited land from a parent (long number of years ago), land that was only ever rented out for agri use by the surviving spouse, who was had use of the land for their lifetime.

20-11-2019 06:43AM

#1

Lime Tree Farm

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Is there an alternative to paying Capital Gains Tax for someone who inherited land from a parent (long number of years ago), land that was only ever rented out for agri use by the surviving spouse, who was had use of the land for their lifetime.

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#2 20-11-2019 07:18AM

wrangler

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Lime Tree Farm wrote: »

Is there an alternative to paying Capital Gains Tax for someone who inherited land from a parent (long number of years ago), land that was only ever rented out for agri use by the surviving spouse, who was had use of the land for their lifetime.

If you have land 30 or 40 years, CGT won't be high, have you talked to your accountant, It might surprise you,
I got a really good price for land here and CGT worked out at 11% of teh overall figure...... the cheapest tax you could pay

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