Likelystory
26-02-2005, 01:31 PM
I am hoping to sell within the 04/05 tax year - but realise it might be a bit tight.
I have it in mind that exchange of contracts is the relevant date for CGT purposes rather than the date of completion. Can anyone confirm or otherwise?
I have FTBs who have been told by their solicitor that it isnt feasible to complete by the end of March (as requested by myself) and I am worried they might panic and pull out to save incurring any charges if I insist.
Could I safely ask for exchange of contracts by 5th April and complete afterwards in order to keep them on board?
I have it in mind that exchange of contracts is the relevant date for CGT purposes rather than the date of completion. Can anyone confirm or otherwise?
I have FTBs who have been told by their solicitor that it isnt feasible to complete by the end of March (as requested by myself) and I am worried they might panic and pull out to save incurring any charges if I insist.
Could I safely ask for exchange of contracts by 5th April and complete afterwards in order to keep them on board?