CGT Position

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    CGT Position

    I have recently bought a business and have been unable to sell my property so have really been forced into renting.

    I have been offered a 3 year lease @ £1200 per month with the option to buy at the end.

    What I need to know is how do I stand regarding CGT as I have at this moment in time £200k woth of equity.

    Any help/answers would be greatfully appreciated.


    Need more information - why are you worried about CGT?
    Steve Sims

    Yardleystar Accountancy
    0870 242 1047



      Are you quering the CGT position relating to the property which you hoped to sell but have been unable to sell? Is this a residential property or a commercial property?

      CGT will only be applicable upon a sale. If the property has been your only or main residence since purchase, you are allowed upto 3 years to sell since moving out. Any excess period will be chargeable on time-apportionment basis. However, there may be other reliefs and allowances available to reduce or eliminate any chargeable gains.

      As stated by Yardley Star, further information is required before a full reply could be given.
      Private advice is available for a fee by sending a private message.


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