Under the new rules, however, investors will need to live in the property themselves when they come to sell it. This change effectively removes letting relief as a deductible for the vast majority of landlords when filing their CGT returns.
Read more: https://www.which.co.uk/news/2020/...
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Reply to Can't work out CGT12-08-2020, 21:49 PM
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Hello all! This is my first post and I need your help.
I have been trying to work out the tax on a property gain. Here are my calculations.
Inherited the house (property B) in 1997 which is opposite the house (property A) I lived in with my wife. From 1997 - 2000 i stayed in property...11-08-2020, 15:51 PM -
Hi - I've been renting out 4 properties for a few years. When one of them became empty, I put it up for sale and have not sought a tenant since. Am I still OK to deduct the usual expenses for this property against profits from the other 3 BTLs?
The sale has taken 18 months, so there's...12-08-2020, 14:02 PM -
See PIM2510 on the HMRC website for details, and save a copy because you will never find it twice
12-08-2020, 21:13 PM -
Reply to Can't work out CGTI did not see lettings relief mentioned above.
https://www.property-tax-portal.co.u...-couples.shtml12-08-2020, 21:04 PM -
Thanks to all.It would seem that the benefit of postponing a sale until new tax year is £4428-£6888,and at a value of £200.000 means a small saving of 2.2-3.4 per cent.A slight dip in house prices could eliminate that in no time-a point well made.Both houses have probably gained £40,000 and £100,000...12-08-2020, 18:35 PM
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I have recently received notice from two tenants,on two different houses,valued at 160 and 190k respectively.Both are held in joint names.As both soon vacant and both have incresed in value from 102 and 89k since 2013,due to substantial works.I appreciate that our joint CGT allowance of £24k will mean...12-08-2020, 04:52 AM
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I think you owe jpk, a sunday lunch.12-08-2020, 17:23 PM
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Selling in 2 tax years gives you double allowances but given that we are in a bit of a bubble at the moment you need to balance the CHT saving (28% or 18% of £12300) against the value / saleability now - in Stamp Duty Holiday period - and next year - when it may be quieter.
Don't be over...12-08-2020, 17:07 PM -
Great, thanks ... I now owe you more than a fiver
.gif "(happy)")
12-08-2020, 15:02 PM