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Post Info TOPIC: Avoiding capital gains tax
Waz


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Avoiding capital gains tax
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I havent dealt with this area for some time and would like your opinons on avoiding the 18% tax on £100,000 gain from a property to sell soon.

I have to make it my ppr for 6months or something???

Thanks

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Waseem A&G Accountants Limited
BackOfficeGroup


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Are you talking about a buy to let property?

There are many rules on this. When did you buy, how long has it been let, did you ever live in it yourself, has the value gone down below what you paid?

You could live in it for 6 months as your main residence, yes, that would work or move abroad for 5 years!!

P

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semsley


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Yes Philip, isn't something similiar to working out the capital gain on shares - not something I've done for donkey's years but remember there were complicated tables of years and values!!!!!!

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Advice from beyond the grave!!!

E&OE
BackOfficeGroup


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Sheila

I know CGT is a very complex arena, however with buy to lets, you get various different % allowances dependant on many things such as if you have lived in the property before you rent or after you rent and a few others that I cannot remember but do have the notes for future reference.

P

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