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
Tax advice - house selling and divorce
absicle
Posts: 1 Newbie
I need some good money and tax advice! Where do I start to look for independent advice that will not cost a fortune? I’m getting divorced and selling the family home (London) and trying to hold onto our buy (London) to let properly to live in but I will need to get a 70 grand mortgage to pay ex keep it…. Once I put it in my name I will have to pay the capital gains which is about £35 grand…which is all doable if I move into it and rent a room to a lodger….I earn £27 thousand and £7 grand tax free …..but I have a job opportunity near where my daughter lives (currently 4 hrs drive away) but then The 20 grand rent on the buy to let plus my salary would take me up to £50 grand and I would be paying loads in tax….plus I just took out a £12 grand masters loan so will be paying and extra 9% on my earnings over 27 grand…should I move into buy to let and rent out 2 of the 3 bedrooms to lodgers and just rent a room near my daughter so my main residence is London! Aaagh you see I need help. The tenants in the buy to let are fab and want to stay. Help.
0
Comments
-
Where does that CGT bill come from?No reliance should be placed on the above! Absolutely none, do you hear?0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.5K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.4K Work, Benefits & Business
- 604.2K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards