Originally posted by Sibbers123
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CGT From BTL portfolio
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Sell when you become non-resident... only gains that accrue after 5th April 2015 will be taxable. There are certain anti-avoidance provisions such as temporary absences abroad, so seek professional advice from a qualified tax adviser.
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You could re mortgage the property. Enjoy the proceeds, pay someone to manage it and pass on any remaining equity to your niece free of CGT or inheritance tax (depending on your full situation).
Depends which is more important to you, getting out of BTL entirely or saving tax.
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It seems you are planning to leave UK having paid over £80000-Whitehall will be delighted.The good news is you take about £410000 with you
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CGT is payable after disposal by sale or by gifting ( assuming no mortgage ) ..
Assuming you are paying tax at 40% rate on your income, the capital gains is taxed at 28% rate.
For capital gain of £300K less £12,300 capital gains personal allowance = £287,700 charged at 28% = £80,556 tax bill.
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CGT From BTL portfolio
I ve decided to give up on the BTL uk market - I m getting too old for this all and frankly want to move abroad
I have had a property which was bought for 200K - It is now worth 500K.
I realise that CGT will be due on the 300k which is a lot to stomach. I know I have a 12K CGT allowance but that i not much
Can I gift this property to my niece or sell it at an undervalue - There seems to be rollover relief but I m not sure i understood it.
You might think 300k pnl is a lot but inflation adjusted it is not that much
Thanks to all for serious answers .Tags: None
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by Cameron9988Could do with some advice.
So I have a Ltd company with a semi commercial proeprty in it as follows :- Value £155k
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- The BBL was loaned to the Ltd
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Channel: Tax Questions
17-04-2021, 08:33 AM -
Reply to Limited Company and BBLby Cameron9988The capital gains is going to be £4,600 after my allowance.
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Channel: Tax Questions
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Reply to Limited Company and BBLby Cameron9988The title says commercial property.
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