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Capital Gains Tax
jsearl98
Posts: 1 Newbie
Can anybody tell me what the change in capital gains tax legislation will mean to selling a property that was originally used as a main residence but subsequently let?
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Comments
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18% flat rate after your personal allowance.0
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You will still get PPR for the time it was your PPR and the last 3 years of ownership -unchanged.
You will still be eligible for letting relief - unchanged.
Still get CGT allowance if not used elsewhere - increased from 9,200 to 9,600
No longer get indexation relief for property owned before 1998 or taper relief based on years owned between 1998 and 2008.
Rate of CGT changed from your marginal rate to a flat rate of 18%.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
what about the 10% for the first 1 million?0
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moneysavinmonkey wrote: »what about the 10% for the first 1 million?
That's for entrepeneurs, not BTL.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
You could use Entrepeneur's relief if it is a holiday let but not if it is a standard BTL.0
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