House prices ....again.......

leftieM

talksalot81 wrote: »

We are moving from the risk of people getting into negative equity to the distinct possibility that the whole country could lose everything on the back of housing woes.

Hey, look on the bright side, at least we'll still have the ones we love by our sides - as long as they didn't marry us for our money that is .

championmongo1

No bright side for me leftieM as my loved one isn't by my side! Although it is kinda good being able watch the rugby world cup in peace! lol!

pampam

pgilc1 wrote: »

Drawing an income from property and not declaring it would and should attract the attention of the tax man.

Lots of individuals will fall foul to the capitals gains tax, however most professional investors wont as they will have bought the properties through a limited company which will attract different, more favourable tax rules.

Where individuals can gain is if they previously lived in the house, you have a further three years to sell it and not be liable for capital gains tax.

Will this still apply after yesterdays budget anouncement?
Thanks
pam

talksalot81

That would require them to wait until April at which point every last one of these amateurs may flood the market. If prices did start to drop then the tax break may be nullified by waiting.