How will the new higher cgt rates for residential properties work in relation to mixed use properties-eg a farm sale?
Simon Northcott
The Finance Bill says: “the appropriate fraction” means the fraction that is, on a just and reasonable apportionment, attributable to the dwelling or dwellings.
So there’s a valuation exercise to be done to apportion value, and maybe an argument with a District Valuer.
David Hartles
Shipleys LLP