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  • Lodgers - do children count as additional lodgers?

    I understand that if I take in more than 1 lodger I would be liable for capital gains tax when I sell my home.
    Are children counted in the same way as adults for the purposes of the capital gains tax liability. Would a single parent and their young child count as two lodgers?
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  • ringzer
    started a topic Adding wife to BTL property

    Adding wife to BTL property

    In 2005 I bought a BTL property in London with an outstanding mortgage of ~£150,000 and a current market value of ~ £500,000. The apartment has never been lived in by me and my name alone is on the title deeds and mortgage.

    I would like to add my wife to the property, either 1) title...
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  • Filbert
    started a topic CGT Question

    CGT Question

    Hi All,

    First post, so please be nice!!

    I own a flat which I currently rent out. I bought the flat myself in 2000 and lived in it by myself for 1 year, I then got married in 2001, and lived there for another year with my wife. So after 2 years of owning the flat, I moved...
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  • Transferring individually owned property to LTD Co

    I wonder does anyone know of any successful transfers of residential investment property from individually owned to a Ltd Co without incurring Capital Gains Tax. I have read that there is a possibility of this qualifying for section 162 TCGA relief. I have been told by my own accountants that I would...
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  • How to establish original market value of a Freehold for CGT purposes

    Hello all,

    When I bought my first flat in 1992, the Freehold to the building (which contains two flats) was included in the purchase price. I sold my flat in 1999 but retained the Freehold to the whole building. Recently, I granted a long extension on one of the Leases for a premium that...
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  • Granting subleases to my spouse on individual flats, is it taxable ?

    My 1st post ! wasn't sure if it fits here or in long leasehold Q's...

    I'm in rather unusual situation of owning (on a single long leasehold agreement) a block of Flats which are currently all let on AST's. I would like to transfer ownership/income to my spouse for Tax reasons but would...
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  • Lease extension and CGT tax - hit a brick wall.

    Im really hoping that someone can help me here...
    I am 1 of 5 freeholders of a 7 flat property. 5 flats are freehold and 2 are leashold. The 5 freeholders are also directors of the freehold company that manages the property.
    Recently one of the leasholders extended their lease from from...
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  • Returning to a house I used to live in but rented out for some years, then selling it

    Hi All:

    The scenario:

    I have lived in my house in London for 10 years and made a large capital gain.
    I want to rent it out while I move to the country for 10 years to educate my children.
    I will buy a house outside London and live in it for 10 years.
    I will...
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  • StevieS
    started a topic CGT Allowances

    CGT Allowances

    Hi, Please make allowance for the newbie-nature of my first post but I could do with little advice following the disposal of one of my rental properties. I bought the property for £177,500 back in August 2006 and lived in until October 2010. I then rented it on and off until I completed the sale of...
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  • Care Home, CGT, PRR and SErvice Charge

    I have PoA for my father who has been in a Care home for the last 2-3 years, as he is no longer able to live independently.

    WE have been trying to sell his property during that period, but for various reasons, no buyer has come forward.

    1. If/when we do find a buyer, will...
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  • Are sales costs an allowable expense when CGT exempt?

    Hi all,

    im currently in the process of selling one of my 2 rental properties, i have completed my CGT calculation and when i factor in my PRR and LR my chargeable gain ends up as £zero regardless of whether i also factor in the sales expenses (£3K) i am incurring during this disposal....
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  • SteveHorgan
    started a topic Tax implications of granting new leases

    Tax implications of granting new leases

    My wife and I jointly own the freehold of a property which is physically split into two self contained flats. We want to establish a leasehold structure so that we can re-mortgage the flats separately and sell them separately at a later date. We would either want the freehold to remain in our joint...
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  • Capital Gains Tax - Private Residence Relief and Letting Relief, help me verify this

    Hello everyone,

    I am selling my first property (UK). I have calculated the taxable capital gains left over and need advice/confirmation as to whether my figures are correct.

    I purchased the property on the 16/04/2013 for £155,000 with a residential mortgage....
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  • sues
    started a topic CGT if you sell then buy another property?

    CGT if you sell then buy another property?

    I'd like to sell my buy-to-let flat and buy either a) another buy-to-let flat or b) a holiday home to rent out.
    How can I avoid paying CGT on the sale of my current property in these two cases?
    Thanks in advance for your help.
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  • CGT implications on part transfer of a rented property to my wife?


    I realise that I have made a fatal error in not transferring the property last year, but would like some advice before potentially making the situation worse!

    I am now a higher rate tax payer so would like the rent transferred to my wife to take...
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