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Right to buy on privately rented homes
Comments
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The way to get out of cap gains Tax is to kick tenants out and move into your rental properties yourself for a year each
Hey presto no cap gains due
That is not correct, the CGT is pro-rata'd for the periods that it was an investment property.Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
Not long ago it looked very unlikely Jeremy Corbin could ever get in so right to buy was remote chance
Now everything is so uncertain anything is possibleThe thing about chaos is, it's fair.0 -
There is so much dirt being thrown at boris lately
Corbyn may get in after allThe thing about chaos is, it's fair.0 -
chucknorris wrote: »That is not correct, the CGT is pro-rata'd for the periods that it was an investment property.
So there is no way out of cap gains?
If the right to buy private tenants does come in not only will LLs be forced to sell but they will be forced to pay huge cap gains, win win for the government0 -
RealElement47 wrote: »LLs be forced to sell ... pay huge cap gains
You do realise that the only way LLs would be "forced to pay huge cap gains" is if they've made even huger profits don't you? :rotfl:Every generation blames the one before...
Mike + The Mechanics - The Living Years0 -
Its pie in the sky.
At the moment mortgages are no more expensive than rent for much of the country. The reason people rent rather than buy is they do not have the deposit to buy. Where are these deposits going to come from?0 -
RealElement47 wrote: »So there is no way out of cap gains?
If the right to buy private tenants does come in not only will LLs be forced to sell but they will be forced to pay huge cap gains, win win for the government
Yes there is a way to to reduce it, even possibly down to zero. When your etfs or funds drop sharply, you can switch to a very similar etf or fund, and lock in a paper loss. When the new etf/fund recovers although you have not actually lost anything, you have a CGT loss to offset against future CGT. When I sold a property in 2017, I had amassed a paper loss of just under £100k to offset some of my CGT bill.Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
RealElement47 wrote: »So there is no way out of cap gains?
There's no capital gains tax if you don't sell.0 -
MovingForwards wrote: »There's already a huge thread going
He knows, he is the one that started it.0 -
This is why the thought of being forced to sell to your tenants is causing such a stirSailtheworld wrote: »There's no capital gains tax if you don't sell.0
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