Tax traps and tax-smart ways to build a house in your garden
Tuesday, June 14, 2011 | Posted by: Stuart Maggs
Categories:
Personal,
Protecting your wealth
| Tags: tax,
property,
capital gains tax,
CGT,
income tax,
residence,
Stuart Maggs,
PPR,
sale,
income from property,
property trading,
development,
reliefs,
plot,
planning permission,
house,
building in your garden,
second property,
let,
land,
garden
From time to time an Englishman stands and stares at his back garden and thinks, “You know, I think there’s room to fit another house in there.” The question of how to develop your property while minimising the potential tax liability then arises – and it’s a regular one for tax advisers.
