Guest mark&rachel

Capital Gains Tax

    Recommended Posts

    Guest mark&rachel

    Hello All

     

    Does anyone know a decent person in UK who can advise me on Capital Gains Tax?

    Dont want to pay any but looking at transferring some money having just sold our flat over there.

     

    Any help would be much appreciated

     

    Regards

    Mark

    Share this post


    Link to post
    Share on other sites

    you only pay capital gains tax if you have more than one property. If your primary place residence is the house youve sold then there is no cgt implications. CGT only comes into play if you have more than 1 e.g a portfolio :) hope this helps.

    Share this post


    Link to post
    Share on other sites

    Okay, you only pay tax on the profit. E.g if you bought for 100000 and sold for 125000 its only the 25000 that is taxable as that is the gain so to speak. I know there is also a set chunk of money approx £8000 from a profit which is exempt from this tax also, which you both can claim if proprietors which brings down the amount taxable, theres also lettings relief on cgt, theres a good website www.taxationweb.co.uk for further info also on this kind of stuff :)

    Share this post


    Link to post
    Share on other sites
    Guest mark&rachel

    Excellent yes il look at that. I remember reading something about something tto do with how much it was valued at the time of entering pz etc.

    Om shocking at all this

    Share this post


    Link to post
    Share on other sites

    Create an account or sign in to comment

    You need to be a member in order to leave a comment

    Create an account

    Sign up for a new account in our community. It's easy!

    Register a new account

    Sign in

    Already have an account? Sign in here.

    Sign In Now