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Do i pay CGT on 2nd home?

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Comments

  • 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 :o
    Everyone loves Magical Trevor.
    'Cause the tricks that he does are ever so clever.
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