If you convert your home to three separate dwellings, what would be your tax liability upon selling two of them?

[Twoddle]

Originally posted on "Property", here.

I'm now wondering if the most tax-effective way to undertake this project would be to set up a company.

I can do the designing and visualising and basic budgeting standing on my head - but am cr*p on the tax side, and planning the build carefully tax-wise would make all the difference.

Grateful for any advice. Ta.

Hi Twoddle - the quick, best suggestion I can offer you is to see an accountant before you even start the design work. This is first because some types of conversion attract lower tax bills (ie it may pay you to plan the conversion in a certain way), and second, that as the work goes on, you can take steps to avoid tax such as, f'r instance, choosing which bit of the property to live in to reduce your liability (ie size of bill) to CGT.

Try posting too on accountingweb Any Answers (blog, find it on google) as a handy specialist may pop up.