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Capital Gains Tax and Climbing The Property Ladder

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Comments

  • glasgowdan
    glasgowdan Posts: 2,968 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Thrugelmir wrote: »
    Hoping isn't a business plan. Selling and buying property is going to involve considerable cost. Selling fees, legal fees, stamp duty. To net £25k profit a transaction is a sizable challenge. Not least that there are plenty of property developers actively looking for similar properties. Having to finance with a mortgage may restrict the options available.

    He's not proposing to run a business.
  • POPPYOSCAR
    POPPYOSCAR Posts: 14,902 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Have HMRC clamped down on this then?

    We had an offer some time ago for a property where the guy did exactly this.

    He lived in each property for 6 months.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    glasgowdan wrote: »
    He's not proposing to run a business.

    Did I say he was. Crunching numbers is one the most basic of requirements. That most certainly requires the business approach. Comes in handy with the financial aspects of managing projects too. Be a waste of time to spend hours on a speculative punt to earn no reward.
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper
    glasgowdan wrote: »
    He's not proposing to run a business.
    Yes, he is.

    Just not full-time.
  • amateur_house
    amateur_house Posts: 277 Forumite
    Seventh Anniversary 100 Posts Name Dropper Combo Breaker
    spidystrider wrote: »
    Interesting read, but it seems to be about landlords, unless I missed something. He has no plans to be a landlord.

    That is interesting. If the comments by landlords in that discussion are to be believed we should be seeing a lot of buy to let properties coming on to the market soon. So there may be opportunities for the OP to buy at a reasonable price, assuming the additional supply means less competition for each property. I can't see any indication of it in my area yet though, hardly anything new seems to be coming up for sale.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    eggha wrote: »
    agreed, but one he is unlikely to be caught engaged in - if he does it sensibly


    Or even make a profit in, meaning it is not really a "business"?
This discussion has been closed.
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