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Letting Relief scrapped.
Comments
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No, just for the period that it wasn't primary residence, less any relief period on either side of the residence period.It seems that CGT in this instance will be retroactive from what I've read. What I'm trying to determine is how far back. For example, if a property has been owned for 40 years and rented for 1 year, would the new rules means full CGT on the whole 40 years of ownership.
https://www.gov.uk/tax-sell-home/let-out-part-of-home0 -
No, just for the period that it wasn't primary residence, less any relief period on either side of the residence period.
https://www.gov.uk/tax-sell-home/let-out-part-of-home
Seems reasonably fair.0 -
nothing has changed about how CGT is calculatedIt seems that CGT in this instance will be retroactive from what I've read. What I'm trying to determine is how far back. For example, if a property has been owned for 40 years and rented for 1 year, would the new rules means full CGT on the whole 40 years of ownership.
read this, but obviously skip point 3 on letting relief:
https://forums.moneysavingexpert.com/showpost.php?p=73621764&postcount=2
it is rather amusing that you are thanking the biggest one on hereThanks Crashy, this isn't the most forgiving forum and it seems that you can't ask questions without attracting trolls.0 -
No, just for the period that it wasn't primary residence, less any relief period on either side of the residence period.
https://www.gov.uk/tax-sell-home/let-out-part-of-home
That's the answer I'm looking for. Thanks.0 -
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Crashy_Time said:
I've only just seen this post.
Thanks. Don't think I can make it apply to me though, as I only own the one property and it is my home, not a business.
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00ec25 said:
nothing has changed about how CGT is calculatedIt seems that CGT in this instance will be retroactive from what I've read. What I'm trying to determine is how far back. For example, if a property has been owned for 40 years and rented for 1 year, would the new rules means full CGT on the whole 40 years of ownership.
read this, but obviously skip point 3 on letting relief:
https://forums.moneysavingexpert.com/showpost.php?p=73621764&postcount=2
it is rather amusing that you are thanking the biggest one on hereThanks Crashy, this isn't the most forgiving forum and it seems that you can't ask questions without attracting trolls.
0
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