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Stamp duty land tax
debs312
Posts: 1 Newbie
just really want to confirm how to account for this, if I purchase a property to let out once the SDLT is paid via a solicitor/conveyancer it can not be off set against any recieved income from the property as a deductable expense it is carried forward to be taken against a later sale as a reduction in capital gains? is any one able to confirm this. Many thanks. Debs312
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That's my understanding.
Everything that is supposed to be in heaven is already here on earth.
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Yes, when you sell the property in future, the Capital Gains Tax is worked out on the total of your taxable gain, after taking into account:just really want to confirm how to account for this, if I purchase a property to let out once the SDLT is paid via a solicitor/conveyancer it can not be off set against any recieved income from the property as a deductable expense it is carried forward to be taken against a later sale as a reduction in capital gains? is any one able to confirm this. Many thanks. Debs312
Certain cost and relief that can recduce or defer gains, like solicitor fees (when bought and sell);
Allowable losses you have made on assets;
The annual exmpt amout (AEA) (£9200 for this tax year).
by the way, I tried to start a New Thread, but could not find a button on the website. since you've started this, would you please tell me how to? many thanks.0
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