This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our privacy notice.

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.


A bit of data which remembers the affiliate who forwarded a user to our site and recognises orders from those who become customers through that affiliate.


Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Enrol now on the free landlord tax strategies course

To enrol in the 7 tax saving strategies email course complete the form below. The first module will be emailed to you immediately.

Enrol now on the free landlord tax strategies course

Thank You!

Free Tax Saving Strategies Course
The seven FREE property tax busting strategies course reveals the secrets of how to legitimately beat the taxman and boost your property profits!
View All Questions

Using your CGT allowance on sale of a new build

Question I am planning to resell an off-plan property I have just purchased but will be ready next year. Can my wife and I use our CGT allowance when it is sold?

Arthur says
As in the previous answer given by Ian, the answer to your question depends on what your original intention was.

If you originally intended to sell the property straight after completion, then it may be classed as a 'dealing trade', and your profits at the point of sale will be subject to income tax. Therefore no CGT allowances will be available.

However, if your intention was to let the property, but given the dramatic increase you have now decided to sell, then you can both claim your annual CGT allowances, which currently stand at £8,200 for the 2004-2005 tax year.

Remember - The property must be in joint names before both you and your wife can claim the annual CGT allowance.

Landlord Tax Secrets Get our SEVEN FREE Landlord Tax Saving Strategies - Guaranteed To Slash Your Property Tax Bills!
Click here for more.

Got a burning tax question?

Why not submit a tax question to our tax advisors

Ask a Question