Anyone else have their house on the market?

motorguy

qwert_yuiop wrote: »

That's what they told me when I sold mine. It makes sense - the time it was your "only or primary residence " is surely not relevant to its period as a business, if the capital gain is only relevant over the income producing time.

Although that guardian link looks totally different.

Next time i'm speaking to my accountant i'll ask him to confirm.

What you were told does seem counter to what was published in that link, and anything else i've seen though.

Have you any links to examples of it being calculated as you are saying?

Which? view as per what we've been saying...

http://www.which.co.uk/money/tax/guides/capital-gains-tax-explained/capital-gains-tax-and-property/

Wouldnt matter to me either way, house prices have been fairly stagnant so it would have went up much in the last 3 years - and then we've capital gains allowance to take into account too.

avina

qwert_yuiop wrote: »

For capital gains purposes, the purchase price is considered to be the value on the day you began renting it - the day it became a business rather than your home.

Not according to HMRC HS283.

qwert_yuiop

avina wrote: »

Not according to HMRC HS283.

All right, looks like I've had bad advice. Better keep my head down.

motorguy

Well we've accepted a strong offer on the house! :beer:

Significantly over RV, and reasonably close to our asking price :j

Was on the market since the week before christmas, so thats 6 weeks, of which 2 were holiday weeks.

Wont really count it as sold until the money is in the bank, but the people have their own house sold and very keen on the house and want in in as close to six weeks as possible.! :T

saverbuyer

motorguy wrote: »

Well we've accepted a strong offer on the house! :beer:

Significantly over RV, and reasonably close to our asking price :j

Was on the market since the week before christmas, so thats 6 weeks, of which 2 were holiday weeks.

Wont really count it as sold until the money is in the bank, but the people have their own house sold and very keen on the house and want in in as close to six weeks as possible.! :T

Is this the one in Waringstown? If so well done. Looking at the sale agreed figures, your house must be the only one sold under asking price but over RV.

avina

saverbuyer wrote: »

Is this the one in Waringstown? If so well done. Looking at the sale agreed figures, your house must be the only one sold under asking price but over RV.

Out of interest, where can sale agreed figures for an area be viewed?

BigAl94

avina wrote: »

Out of interest, where can sale agreed figures for an area be viewed?

No facility for this in Northern Ireland

saverbuyer

avina wrote: »

Out of interest, where can sale agreed figures for an area be viewed?

The Land registry office for individual properties but there's no legal requirement to record the figures. Most solicitors do.

motorguy

saverbuyer wrote: »

Is this the one in Waringstown? If so well done. Looking at the sale agreed figures, your house must be the only one sold under asking price but over RV.

The other that sold recently went for over RV too.

Have had five viewers out in two weeks, and now a firm offer accepted.

Well pleased. :beer:

As i said though. Wont be banking on it until the money is in our hands.

qwert_yuiop

Congratulations