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tax rebate
paul2louise
Posts: 2,599 Forumite
My boyfriend wants to sell his house. He lives with me and has been renting his old house out for sometime. He has had to do a lot of renovating since the tennant moved out, new bathroom, windows etc. someone has mentioned to him about a tax rebate on work done. I this true. i phoned inland revenue and they were not very helpful.
please help if you can
louise
please help if you can
louise
0
Comments
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If his old house used to be his only residence, then provided he sells within three years of moving out, there is no Capital Gains tax to pay on the profit. Perhaps that would be more beneficial to him, anyway?
I'm a retired employment solicitor. Hopefully some of my comments might be useful, but they are only my opinion and not intended as legal advice.0 -
Check this leaflet out on the Inland Revenue website......looks like it will tell you everything you need to know
http://www.inlandrevenue.gov.uk/pdfs/ir87.htm0
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