When did Capital Gain arise? 0607 or 0708?

When did Capital Gain arise? 0607 or 0708?

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Contracts exchanged on a house (not PPR) Feb 2007, sale nearly fell through but then completed in October 2007.

Contract was based on getting planning permission, which was declined - seller then began to look elsewhere for a buyer. Without their knowledge, original buyer submitted new planning permission which was granted and sale went through as per original contract.

Did the capital gain arise in 0607 or 0708?
When the contracts were originally exchanged, the solicitor said a gain would have to be declared for 0607. However after original planning permission was declined, we were told no gain occurred as contract couldn't complete.

Many thanks in advance for your help.
Anon

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By User deleted
18th Dec 2007 16:53

Conditional ?
Should I be surprised by the solicitor's comment ? Probably not these days. Is there something else here or does he not recognise a conditional contract which nails the CGT disposal date at the time the condition is satisfied, On the facts given, unless planning
consent was granted pre-6/4/07, the gain is deemed to arise in 2007/08.

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By AnonymousUser
20th Dec 2007 19:44

.
Thank you very much, that's good news.

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