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Grey and green

09 April 2008
Issue: 4153 / Categories: Forum & Feedback
Tax and the development of a main residence

My clients Mr and Mrs Grey are a married couple who have lived in Green House set in just under half a hectare of garden for six years. The house is in Mrs Grey's name. Recently two adjacent properties have come up for sale: Black House next door in a little more than half a hectare; and White Field another hectare of open land which lies behind Green House's garden. White Field cannot be accessed from the road except via Black House or Green House. Mrs Grey has been involved in a property rental business for some years and she sees the potential for developing both White Field and Black House which is very run down. There would be the possibility of a substantial 'ransom payment' to allow access to any houses built on White Field through the grounds of...

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