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CGT again, sorry!
Kinnairdy
Posts: 196 Forumite
in Cutting tax
Am selling x 3 properties which I rented out, will have CGT liability on portion of profit, if I buy another house (got my eye on one at moment) would the purchase of same give CGT relief on sale of other properties, (I think I read on some CGT web site that buying another property could be off set against CGT but can't find it again, that'll teach me not to bookmark things 
)Not to rent out this time but for when we retire (10-15 yrs in future, our present home linked to my job), our daughter and family would probably live in it (rent free, you know what kid's are like!
) until they get their own house.Thanks
Speak your truth quietly and clearly;and listen to others,even to the dull and ignorant,they too have their story. Avoid loud and agressive persons, they are vexations to the spirit
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Comments
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when you sell a chargable gain has occured and you will be liable to CGT.
Make sure you are using all the reliefs available to you. Post some figures if you want an idea of the amount. Could you sell the properties in different tax years.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
Thank's, already posted figures etc in another post so won't bore everyone again, nope selling over different tax years not an option, want shot of them all now, fed up being a Landlord and need to raise the capital to hopefully buy house I am eyeing up.Speak your truth quietly and clearly;and listen to others,even to the dull and ignorant,they too have their story. Avoid loud and agressive persons, they are vexations to the spirit0
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