Parents selling part of their house - CGT?

[Paperairplane]

My parents live in a farmhouse with converted barns. They now want to sell the farmhouse and carry on living in the barns. They’ve lived in the farmhouse for over twenty years. Do they have to pay CGT on the farmhouse? (It’s been their main home through out.)

Someone more clever than me will come along but I don't think you pay CGT on the sale of your principal private residence.
Go on to Gov. Uk and it will spell it out.

Thanks! It just seems like there would be some tax consequence, but not sure what that would be!

It is quite complex as from the sounds of it they may have more than an acre, they might benefit if taking advice from a tax accountant. As they may have to pay a small amount calculate taking into account the number of years they have been there etc.

Thanks! Yes, they have about twenty acres. Does that make a difference?

The attached are from the Government snd Which. I have a similar issue in that we have 14 acres. Ours is agricultural land but we are not a farm. We also bought the land 10 years after we bought the house. So we all need advice!

I think they’ll have to get advice... thanks!

do you think they would want to sell me 1 acre :) lol...im looking for a smallholding!!

You can have mine for £2m.