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avoiding capital gains tax on 2nd house
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According to BBC teletext there are 2 rates of taper relief. 1 is for business assets and 2 is for non-business assets. Can anyone tell me if a property used solely as a non-holiday home let is considered as a business or a non-business asset as far as taper relief is concerned?Something Really Interesting0
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Please Help!
I bought a house in 1991 for 71K and lived in it until 2001. The house has since been rented.
In 2002 I got married and bought another house with my wife. Both houses are in joint names. If we sold the rented house we may get upto 180K...a massive gain. Whilst I accept we must pay some CGT I would like to know if there is anyway we can mimimise the amount paid hould we sell the rented house.0
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