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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
new question but a continuation of pervious one here;
Hello new question but a continuation of pervious one here; http://www.justanswer.com/uk-tax/8xhz6-live-us-own-propery-uk-property.html The question pertains to how CGT calculated in a property has ha… read more
Sam
Sam
Accountant
Higher Officer HMRC
17,058 satisfied customers
Flat bought in 2002. and lived in until October 2011. Purchase
Flat bought in 2002. and lived in until October 2011. Purchase price £85,000. Moved out in 2010, but unable to sell so rented it out. Flat valuation then £125,000. Flat valuation now £130,000. Q1. If … read more
bigduckontax
bigduckontax
Accountant
FCCA FCMA CGMA ACG
1,460 satisfied customers
Within my divorce agreement my husband was to pay me £80,000
Within my divorce agreement my husband was to pay me £80,000 but instead I took the money in the form of a property that he was selling. the property was on the market in at £175,000 so I needed £95,0… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
I made a mistake with the information I gave previously which
I made a mistake with the information I gave previously which I presume you will be able to go back and look at - I have a £260,000 mortgage on my Fulham flat NOT the Devon property. Can you please co… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
2,228 satisfied customers
we are looking to buy a house with my mum split 40% to her and 15% to the 4 siblings. Hou
we are looking to buy a house with my mum split 40% to her and 15% to the 4 siblings. House price £1m. We buy as tenants in common and our shareholdings are represented by a deed of trust. On death of… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
My partner and I acquired and have lived in our main residence
My partner and I acquired and have lived in our main residence and only residence for 8 years and have decided to go travelling for 12 months and would like to rent our property but would also like to… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
Hi, I have two properties, one where I live as my main residence,
Hi, I have two properties, one where I live as my main residence, and one which I have let out. The main residence is valued at around £2.3-£2.5 million, whereas the buy-to-let is around £2million I u… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
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I purchased my home for 25 years and lived in it for 23 years.
I purchased my home for 25 years and lived in it for 23 years. The purchase price was £50,000. I moved out 2 years ago and am presently renting the property. The house was valued at £200,000 when I mo… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
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I am about to sell my investment property back to the local
I am about to sell my investment property back to the local authority which I purchased in 2005 under right to buy sheme.What is the position around capital gain tax? Will I have to pay any ?… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
2,228 satisfied customers
I have 2 properties, I intend the to sell the one I have been
I have 2 properties, I intend the to sell the one I have been living in since Aug 2010, are there any capital gains implications ? I will then move to the other property, am I restricted by any timeli… read more
berduchwal
berduchwal
Accountant
Licenciatura
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I was asked to ask you another question! So, if I make the
I was asked to ask you another question! So, if I make the ltd company live that I have, does it matter if the extra income that comes in is from different sources (eg. for doing one type of work, and… read more
berduchwal
berduchwal
Accountant
Licenciatura
669 satisfied customers
I am currently buying a house and the owner is concerned that
I am currently buying a house and the owner is concerned that she may have to pay CGT. She owned the house with her husband. They seperated but did not divorce and there was no legal seperation in for… read more
Andrew Baker(baktax)
Andrew Baker(baktax)
Personal Tax Adviser
High School or GED
756 satisfied customers
Hello. We have a buy to let property which were thinking
Hello. We have a buy to let property which we're thinking of selling and were wondering about the tax implications and how much ( if anything ) we would walk away with. I bought the flat in 1996 and l… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
If we sell a house for 300,000 (not main residence) bought
If we sell a house for £300,000 (not main residence) bought 12 years ago for £90,000, but with £90,000 of mortgage still against it is the net capital gain £210,000 or only £120,000?… read more
Sam
Sam
Accountant
Higher Officer HMRC
17,058 satisfied customers
bought house in jul 2001 ( 59,000) spent approx 15,000 to
bought house in jul 2001 (£59,000) spent approx £15,000 to date on improvements / costs etc starting letting to tennants in Feb 2008 - as we bought new home (wife and I) current approx house value (£1… read more
Sam
Sam
Accountant
Higher Officer HMRC
17,058 satisfied customers
Purchased a property in 2000, lived in it till 2002, moved
Purchased a property in 2000, lived in it till 2002, moved abroad with work and rented property out till 2009. Moved back to UK in 2007 to different area. Just sold house for big profit - am I liable … read more
Sam
Sam
Accountant
Higher Officer HMRC
17,058 satisfied customers
Hi, I do hope you can help as I am finding it very difficult
Hi, I do hope you can help as I am finding it very difficult to work out my CGT exposure for 2007/2008. I owned a buy to let property from Nov 1998 to July 2007. Whilst I owned the property I converte… read more
TEAP007
TEAP007
Tax Preparer
Fully Trained Inspector of Taxes B1
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Andrew Baker(baktax)

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