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capital gains on property
petercoll
Posts: 4 Newbie
in Cutting tax
??? Three members of my family bought an old barn we have a number of caravans on site, and will probably run out of finance after getting the roof on. What must we do to escape CGT if we sell on. ::)
To add to this, >:( the property has increased greatly in price due to the last boom we purchased it mainly from an inheritence left in trust and 1/4 from proceeds of a house sale, can it be reinvested in a home, and will this help. :-/
To add to this, >:( the property has increased greatly in price due to the last boom we purchased it mainly from an inheritence left in trust and 1/4 from proceeds of a house sale, can it be reinvested in a home, and will this help. :-/
0
Comments
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Sounds complicated!
Find a good tax accountant!
3 way ownership means 3 capital gains tax exemptions.
If you have been living on site you may be able to use this to your advantage.
I'm not sure where the funds came from are relevant.
Good luckSmile
, it makes people wonder what you have been up to.0
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