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Do i pay CGT on 2nd home?
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Twopints wrote:Yup. Normally your house is not subject to CGT as long as it is your Principal Private Residence.
If you have a property (or other asset) that is liable for CGT then taper relief applies. It can reduce the gain liable to tax by up to 40% after 10 years (commencing 1998 or year of acquisition, whichever is later)
Ahh, I forgot about the non-business asset taper relief. That's what you get for spending your life doing corporate tax rather than personal tax.
Smacked hands and legs for me
Everyone loves Magical Trevor.
'Cause the tricks that he does are ever so clever.0
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