Compulsory Purchase Order
Hi, We have had a letter from the Council that our Buy to Let property is in the catchment area for Compulsory Purchase due to regeneration of the area. I appreciate that once the order is enforceable a valuation offer will be made.
We are unsure on our next action, however we would like to be in a position to make an informed decision near the time.
If we decide to reinvest in another Buy to Let property, would we need to pay capital gains tax and would we need to pay the 3% added stamp duty that is currently in place?
If however, we decided to sell up and not reinvest in another property would we still need to pay capital gains tax under the circumstances?
Thank you very much for you support
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