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My wife and I bought a buy to let flat in 1985 in her name.(£25k).
My wife and I bought a buy to let flat in 1985 in her name.(£25k). A few years ago she added my name to the register. I've been told that if we were to sell we would only have to pay CG on half of the… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
My question is the same, but my circumstances are much different. I
My question is the same, but my circumstances are much different. I bought my flat for £15k from the council many years ago (1996), and for the past 13 years I have been renting it out since I moved o… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
I was renting a property in 1998 and bought it in 2000 for
I was renting a property in 1998 and bought it in 2000 for a price of £61600. I then started renting it out in 2002, and it is still currently rented out, The property was an ex council house when I b… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
my wife is the name on title deeds of a flat (1) that her parents
my wife is the name on title deeds of a flat (1) that her parents bought in 2000 - it has no mortgage - it is let informally the income goes to her parents what are the implications to us relating to … read more
privateclientlaw
privateclientlaw
Lawyer & Advocate
10 satisfied customers
Hi, i bought a flat under my name in april 2006 for 245k
Hi, i bought a flat under my name in april 2006 for 245k and lived there until january 2011 when i bought a second house together with my wife and moved in there. At the moment i rent the original fla… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
I inherited a flat from my father in 1971 that I have been
I inherited a flat from my father in 1971 that I have been renting out. I am now in the process of selling it. Is there CGT to pay? I am aware I get 40% taper relief from 1998 but am I right in assumi… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
My ex-husband and I bought a flat in London in 1996 for 69k.
My ex-husband and I bought a flat in London in 1996 for £69k. (I lived in it between 96-98)As part of our divorce settlement in 2004 (2 years after separation) the flat was made over to me. At the tim… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,702 satisfied customers
I bought a flat five years ago, then rented it out when I went
I bought a flat five years ago, then rented it out when I went to work abroad. I came back to the UK two years ago but did not live in the flat because (a) it was still let under the rental agreement … read more
Sam
Sam
Accountant
Higher Officer HMRC
6,702 satisfied customers
I bought a second home in 1996 and am planning to sell it this
I bought a second home in 1996 and am planning to sell it this year. I thought there were annual reliefs which you could deduct plus buying and selling costs before then applying the annual tax allowa… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
My partner bought a flat which he lived in for a few years
My partner bought a flat which he lived in for a few years before he rented it out and came to live with me. Its been rented now for approx 8 years. He doesn't have a buy to let mortgage, just a norma… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
I purchased a flat for 48,500 on 16th June 2000 and have been
I purchased a flat for £48,500 on 16th June 2000 and have been renting it out since then. I am considering selling it and have a query on the chargeable gain calculation. The current market value is £… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 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
6,702 satisfied customers
I bought a flat in 1986 for 37,500. I have since remortgaged
I bought a flat in 1986 for £37,500. I have since remortgaged it and added my husband's name to the deeds. I have rented it out since 1996 and have now decided to sell it. I do not pay income tax and … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
We have just sold our flat for 137K, we have owned it since
We have just sold our flat for £137K, we have owned it since 1988 and lived in it until 1997. We bought it for £66K and had an endowment mortgage on it - we walked away with £50K - my husband pays 40%… 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
I recently sold a buy to let flat on which capital gains tax
I recently sold a buy to let flat on which capital gains tax is applicable. The IR will allow legal costs on purchase and sale, estate agents costs on sale, taper relief (the flat was owned for more t… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
My wife and I jointly owned an investment property from August
My wife and I jointly owned an investment property from August 1999 to 14 April 2008 when the property was sold. The capital gain is £53000. The property has never been used as our principal residence… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 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
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