- Location
- S. Staffs
No, see my post 16 above.
Split into lots and offer by sealed bids = smaller sale amounts to roll over?But what if the gain is the vast majority of the sale proceeds?
Say you have owned some land since the year dot, and its valued at 1982 values (2k for sake of argument), and you sell it for 10k/acre. So lets say a 100 acre block, base value £200k, sale value £1m, gain of £800k. Am I right in thinking in such a case you'd have to spend all the gain (ie over 800k out of the sale proceeds of 1m) on qualifying assets in order to claim any RoR at all?
If you want to claim all the relief you have to spend £1m (i.e. not just the gain)But what if the gain is the vast majority of the sale proceeds?
Say you have owned some land since the year dot, and its valued at 1982 values (2k for sake of argument), and you sell it for 10k/acre. So lets say a 100 acre block, base value £200k, sale value £1m, gain of £800k. Am I right in thinking in such a case you'd have to spend all the gain (ie over 800k out of the sale proceeds of 1m) on qualifying assets in order to claim any RoR at all?
If you want to claim all the relief you have to spend £1m (i.e. not just the gain)
To get any relief you must spend more than £200k.
Spend £600k and you will get 50% relief.