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Quick question re. CGT
tiamaria
Posts: 1,483 Forumite
in Cutting tax
If someone was to inherit a property and then let it out and then sell it later would they be subject to CGT bearing in mind that it wasn't originally bought in order to make a profit?
0
Comments
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Subject to the usual provisions and allowances, the short answer is yes, CGT will apply.
Also remember that rental income (less any expenses) is also taxable.Today is the first day of the rest of your life0
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