Many homeowners with large gardens are selling part of their garden to property developers or indeed, building the properties themselves. Capital Gains Tax (CGT) will be the usual tax consideration, but in certain circumstances income tax may be charged.
Can I build a granny annex in my garden?
But, take it from us, the annexe professionals, if you want to build a granny annexe in your garden, with someone living in it every day, then yes you will either need planning permission or a certificate of lawfulness from your Local Planning Authority (LPA).
Can you build a house in your garden?
Remain in your house and sell the plot with Planning Permission. Build the new house in your garden and sell, rent, or provide it for a family member. Build a new home for yourself and sell or rent your existing property
What happens if you build a house on a garden plot?
If you build the new home in the garden and sell it off without ever living in it, then you will also be deemed to be trading, and Income Tax will become payable on the ‘developer’s profit’ that you make, as well as the gain caused by the uplift in value of the plot when planning permission was obtained.
Can a neglected garden add value to a home?
Property experts estimate that an attractive garden can add thousands to the selling price, while a neglected plot can knock money off, so find out how to maximise the value of your garden. Give your garden a makeover and save money at the same time with a special Thompson and Morgan offer of 10% off.
Why do estate agents take pictures of your garden?
While estate agents will do their best to sell your home by promoting it on their website or sending out detailed listings to prospective buyers, some of pictures they use do not do a garden justice. Taken at a time of year when the garden is not looking its best, the shots will fail to help with any marketing.
