Hi everyone,
I'm about to get the ball rolling on planning and building a duplex and selling either just one of the houses, or maybe even both directly after completion. I'm a builder myself and have a company which will be building the duplex. This is my first development and I hope there'll be many more to come. I want to treat this not as something on the side from my full time job, but build up a business and develop full time.
There are quite a few duplexes being built and I see some getting built and put on the market straight after completion, wouldn't these developers be paying large amounts of CGT in comparison to those who hold it for a year?
In your experience, what'd be the best practices to implement during and after construction in regards to minimising taxes.
Thanks in advance.
I'm about to get the ball rolling on planning and building a duplex and selling either just one of the houses, or maybe even both directly after completion. I'm a builder myself and have a company which will be building the duplex. This is my first development and I hope there'll be many more to come. I want to treat this not as something on the side from my full time job, but build up a business and develop full time.
There are quite a few duplexes being built and I see some getting built and put on the market straight after completion, wouldn't these developers be paying large amounts of CGT in comparison to those who hold it for a year?
In your experience, what'd be the best practices to implement during and after construction in regards to minimising taxes.
Thanks in advance.