WE HAD A PROPERTY GIFTEDTO US @ £180.000 AND OBTAINED PLANNING PERMISSION ON THE SIDE GARDEN
TO BUILD ANOTHER PROPERTY.
MANY YEARS LATER THE ORIGINAL PROPERTY WAS SOLD FOR £245.000 AND THE NEW BUILD HOUSE BECAME
OUR HOME FOR JUST OVER 6 MONTHS.
DUE TO SCHOOLING DISTANCES WE HAD TO MOVE YET AGAIN AND LET THE PROPERTY AS THE CRASH
RESTRICTED THE SALE. WE HAVE NOW BEEN TOLD WE MAY BE LIABLE TO CAPITAL GAINS ON THE
PROPERTIES AND THE LAND USED AS THIS HAD ITS OWN VALUE? WE WERE ALSO
ADVISED BY A FRIEND THAT THE HOUSE CAN BE SOLD WITHIN 3 YEARS AND SHOULD NOT HAVE TO PAY ANY
TAX. WE ARE SO CONFUSED AND DON'T KNOW WHAT TO DO?