CGT - on property sale

[Spearmansam]

I bought a house for c.£0.5m in 2012.
Between 2012 and 2016 I spent £0.1m on enhancements.
In 2016 I sold off some of the garden for c.£0.2m.
In 2017 I moved out of the property and rented it.
I am now selling the property for £0.6m.

Do I have any CGT to declare?

Thanks
Sam

[brickwall]

Is this your main home?

[Spearmansam]

It was until I moved house in 2017 due to a change in jobs

[sociopath]

You'll have to make a declaration within 30 days of exchange. Whether you owe anything will depend on detailed costs.

There's an online calculator on the hmrc site, or there used to be

[Spearmansam]

I was hoping the CGT will be nil as I paid £0.5m, spent £0.1m and will sell for £0.6m. So no gain...
The land split/sale was done during my time living there.
If they deem the sale price was £0.8m (i.e. the proceeds of the previous land sale and house sale, then they could deem a gain). The £0.2m land sale was rolled into my purchase of my new home at the time.

[brickwall]

As above - you’ll need to work out the detailed costs.
Prima facie it looks like you might have to, as you acquired the asset for a total of £0.6m, and are selling it for a total of £0.8m (albeit across two separate transactions).

[epom]

Disappointing lack of a Porsche V10

[Spearmansam]

brickwall said:

As above - you’ll need to work out the detailed costs.
Prima facie it looks like you might have to, as you acquired the asset for a total of £0.6m, and are selling it for a total of £0.8m (albeit across two separate transactions).

I obviously hope this is not the case as the gain has primarily been on the land sale, which at the time was covered by the main residence property relief. It would perhaps be fairer to re-value the original property when I purchased excluding the land which was sold off. Had I purchased the house only it probably would have cost £0.45m instead of £0.5m - i.e. the land was not worth very much. Seems very unfair to apply CGT against a sale more than 2 years ago.

[brickwall]

You’ll need professional advice.

[Eric Mc]

How much are the proceeds on disposal?
How much is the gain?