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Same principles apply I think. You have granted an option over your property.

You said above you own the property. So is this a put option? i.e. you will be required to sell if the developer wants to buy

2 CGT events - option and settlement are different transactions. D2 on granting the option. No 50% CGT discount on this - just a capital gain (less any expenses) And when the option is exercised. If this happens then the CGT on the granting is disregarded - so you may have to amend your...