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CGT on sale of BTL
GlasgowExpat2
Posts: 263 Forumite
in Cutting tax
I’m in the process of selling my BTL property and after deducting expenses will have a CGT liability of approximately £34,000. I’m a basic rate tax payer.
I currently salary sacrifice into my company pension scheme - would there be any benefit to sacrificing the maximum amount to reduce the amount of tax I pay?
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Comments
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You could free up more basic rate band so more of the gain falls into the lower CGT rate.GlasgowExpat2 said:I’m in the process of selling my BTL property and after deducting expenses will have a CGT liability of approximately £34,000. I’m a basic rate tax payer.I currently salary sacrifice into my company pension scheme - would there be any benefit to sacrificing the maximum amount to reduce the amount of tax I pay?
But with £34k to pay I wouldn't expect a huge change!
https://www.litrg.org.uk/savings-property/capital-gains-tax#:~:text=The rate of CGT you,18% for basic rate taxpayers.0
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