How does capital gain tax work if I build another property in my garden and then sell one on....?

[mulranna]

Just that really....alternatively if I were to extend my single property to create 3-4 apartments and then sold them - would I pay capital gains tax on each or not?

I am no expert but I think you are only exempt from paying CGT if you've lived in a property for a certain amount of time. So as you are creating new properties unless you live in them for so long before you sell them you will be liable for Capital Gains Tax.

Wow - thanks -- looks v complicated - so you have to decide if you want to pay income tax or CGT - it appears I will need to invest in good legal advice