QuestionOur client Ms Heyes is a partner of a law firm. She purchased a house with an open plot of land attached to it on 22 January 2010. The property was renovated and she moved in on 8 October 2010 since when the property has been her main residence. The total area of the house and land is 0.75 hectares. She does not own any other properties. A property developer has approached her to buy the house and land intending to develop it into a small estate. She has been offered a cash payment together with an additional sum when planning permission is obtained plus new house on the estate.
The first issue is whether the disposal is a capital...
