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My Question is on Capital Gains Tax. My uncle bought a
Hi, My Question is on Capital Gains Tax. My uncle bought a property for £149K a few years ago. He recently sold his mortgaged property for £250,300 The following expenses (associated with the sale of … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
Question 1 I own a property in London. It has been valued
Question 1 I own a property in London. It has been valued at £1.1m and I have a mortgage on it of £140,000. It's 100% owned by me and I bought it in 2007. It cost £575,000 to buy. It cost c£100,000 to… read more
bigduckontax
bigduckontax
Accountant
FCCA FCMA CGMA ACG
1,460 satisfied customers
i have a flat in london cost £96000 in 1984. it is now valued
i have a flat in london cost £96000 in 1984. it is now valued at £450000. it has never been rented but is fully furnished. i am 70. i wish my son to have this flat...i read somewhere that i can pass t… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,885 satisfied customers
my wife owned a flat and lived in it for 3 years. It was then
my wife owned a flat and lived in it for 3 years. It was then letted out for a further 7 years before she sold it in 2008. The flat cost £37000 and was sold for £110000. I believe we are exempt from t… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,885 satisfied customers
Please could you give me an indication of my CAPITAL GAINS
Please could you give me an indication of my CAPITAL GAINS commitment. I have recently sold a flat and need to know how much money to put aside. My share has been buy to let since 1995 except for one … read more
TEAP007
TEAP007
Tax Preparer
Fully Trained Inspector of Taxes B1
759 satisfied customers
Please could you give me an indication of my CAPITAL GAINS
Please could you give me an indication of my CAPITAL GAINS commitment. I have recently sold a flat and need to know how much money to put aside, many thanks Jill Rock On 11th April 1995 I bought a 50%… read more
TEAP007
TEAP007
Tax Preparer
Fully Trained Inspector of Taxes B1
759 satisfied customers
My Wife is selling a flat that she bought for 136,000 in 1999
My Wife is selling a flat that she bought for £136,000 in 1999 as her main residence. She lived there until 2002 and then moved in with me. She rented the flat from 2002-2009. Is she liable for CGT on… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,885 satisfied customers
My husband and I separated in 2006 and later that year we put
My husband and I separated in 2006 and later that year we put our marital home into my sole ownership and a rental property we co owned into his name only. I still own a rental flat in my name only. H… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,885 satisfied customers
My mother died in November 2009. Since 15 December 1995 she
My mother died in November 2009. Since 15 December 1995 she lived as licensee in a bungalow purchased on that date in the names of myself and my two sisters (licensors), initially as joint tenants but… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
I bought a property in 1997 for £120K i moved out in 2004
i bought a property in 1997 for £120K i moved out in 2004 and started renting it out. so it wasnt my main residential address from 2004 onwards. I am looking to sell property prices seem to be about £… read more
Julie Kingham
Julie Kingham
Director
Chartered Tax Adviser
733 satisfied customers
I bought my right to buy flat in 1995, and have been renting
I bought my right to buy flat in 1995, and have been renting it out since. I paid 24,000 for it, and may need to sell due to divorce. It is valued at 239,000. Am I liable at 18% on the full 215,000 ca… read more
TEAP007
TEAP007
Tax Preparer
Fully Trained Inspector of Taxes B1
759 satisfied customers
Hi My husband and I have lived in a house which I own for
Hi My husband and I have lived in a house which I own for 18 years. Prior to this he lived with his ex wife in a property which they jointly owned and the divorce courtordered that he continue to pay … read more
Sam
Sam
Accountant
Higher Officer HMRC
6,885 satisfied customers
I have a second property which i have just sold and my question
I have a second property which i have just sold and my question relates to Capital Gains Tax. The property is jointly owned We owned the property approximately for 8 years. We lived in the property as… read more
Julie Kingham
Julie Kingham
Director
Chartered Tax Adviser
733 satisfied customers
I inherited a flat in 1998 valued at 65000 and have let it
I inherited a flat in 1998 valued at £65000 and have let it ever since . I pay basic rate income tax . I am selling the flat empty for £143000 . What capital gains tax can I expect to pay?… read more
Julie Kingham
Julie Kingham
Director
Chartered Tax Adviser
733 satisfied customers
We are selling a buy-to-rent house purchased 9 years ago. It
We are selling a buy-to-rent house purchased 9 years ago. It is jointly owned by my wife and I. The purchase price (excluding expenses was 87.5K and we expect to sell for £220k ex expenses. How can I … read more
Andrew Baker(baktax)
Andrew Baker(baktax)
Personal Tax Adviser
High School or GED
756 satisfied customers
I sold a flat in Dec 2007 for 104k that I bought in Dec 2002
I sold a flat in Dec 2007 for £104k that I bought in Dec 2002 for £44,500. I held the flat for 5 years. I never lived there but my mother lived in the flat for over 4 years and paid rent. How can I re… read more
TEAP007
TEAP007
Tax Preparer
Fully Trained Inspector of Taxes B1
759 satisfied customers
i bought a holiday let for 250k and sold it 18months later
i bought a holiday let for 250k and sold it 18months later for 350k - i then bought another holiday let for 250k. I also have buy to let rental properties and i am carrying forward losses from this. C… read more
TEAP007
TEAP007
Tax Preparer
Fully Trained Inspector of Taxes B1
759 satisfied customers
Thank you for you quick reply as such with a property acquired
Thank you for you quick reply as such with a property acquired in 1980 can you apply indexation and then taper relief ie upbase original price to the 1982 value then apply indexation to 1998 and after… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
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