Readers’ forum: Reducing chargeable gains on the sale of a freehold property

My client purchased freehold land and buildings some years ago for use in his trade. He is now selling and will realise a capital gain. He has some qualifying expenditure to roll the gain into but not enough to shelter the whole gain.

It has been suggested that as the real increase in value over the years has been largely on the land rather than the buildings I can treat the land and buildings separately. For example using illustrative figures:

One asset

Land and buildings proceeds:                                     £800 000

Cost:                                                                                £400...