We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

How much did my house cost???

dleafy
dleafy Posts: 127 Forumite
Tenth Anniversary 100 Posts Combo Breaker
in House buying, renting & selling
We bought a flat last year for £53,000 which we rent out. Whilst checking other sale prices last week online (Zoopla, Right Move etc) I noticed that they had the sale price of our flat as £74.950.
Does anyone know why this might be?
I checked the land registry website and it has the price as £74,950 too!
I was going to go back to our solicitor, but I'm wondering whether I should 'leave well alone'. Would we pay less capital gains tax when we sell it if they think our profit is less?
Just curious!

Comments

  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Hi,

    you don't pay CGT if it's your main residence.
  • dleafy
    dleafy Posts: 127 Forumite
    Tenth Anniversary 100 Posts Combo Breaker
    It's not my main residence. We rent it out
  • martinsurrey
    martinsurrey Posts: 3,368 Forumite
    dleafy wrote: »
    Would we pay less capital gains tax when we sell it if we commit fraud

    I've edited your quote to get the real question.

    yes, if when you sell, you commit fraud, you would pay less CGT
  • dleafy
    dleafy Posts: 127 Forumite
    Tenth Anniversary 100 Posts Combo Breaker
    Excellent, thanks!
  • eddddy
    eddddy Posts: 18,547 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Lying on a tax return about how much you paid for a property would be tax evasion. HMRC could prosecute you.

    If it's a second property, presumably HMRC have your SDLT return for the purchase anyway.
  • dleafy
    dleafy Posts: 127 Forumite
    Tenth Anniversary 100 Posts Combo Breaker
    I blame the solicitor... they're hopeless! ����
  • 00ec25
    00ec25 Posts: 9,123 Forumite
    1,000 Posts Combo Breaker
    dleafy wrote: »
    I blame the solicitor... they're hopeless! ����
    I blame you for not knowing the difference between a house and a flat
  • dleafy
    dleafy Posts: 127 Forumite
    Tenth Anniversary 100 Posts Combo Breaker
    Grow up!
    Either the solicitor or the land registry (or both) have made a mistake. Of course I've now contacted both to rectify this.
    People need to chill out. Nobody died
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.4K Banking & Borrowing
  • 254.4K Reduce Debt & Boost Income
  • 455.4K Spending & Discounts
  • 247.3K Work, Benefits & Business
  • 604K Mortgages, Homes & Bills
  • 178.4K Life & Family
  • 261.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture