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I had a part share in second home - received no income from it - i lived there 9
I had a part share in second home - received no income from it - i lived there 9 months of 7 years that it was owned. When sold, there was a profit of 23k. I am on 40% tax rate. Is this a Captial Gain… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,045 satisfied customers
Hi I am getting divorced and we have 2 homes. The first
Hi I am getting divorced and we have 2 homes. The first House was bought in 2000 for £130k. We lived in this house until 2005 at which point it was rented out and we moved to a new house. The new hous… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,045 satisfied customers
Hi I wonder if you can help? My wife and I split up
Hi I wonder if you can help? My wife and I split up on 31st March 1990, however we did not divorce or officially seperate. We bought a house in joint names on 2/10/85 for £73,500 which would sell for … read more
Sam
Sam
Accountant
Higher Officer HMRC
6,572 satisfied customers
We own 2 homes and live in one, a freind is living in the other
We own 2 homes and live in one, a freind is living in the other house. We moved out of this house 28 months ago. How much capital gains tax would we have to pay if we sell this house this year?… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
6,362 satisfied customers
Hello A CGT question. I lived with my exwife for six years. I
Hello A CGT question. I lived with my exwife for six years. I moved out in oct 2006 Got absolute divorce in Aug 2007 A consent order was written in Mar 2008, giving me 40% deffered equity, payable onl… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,045 satisfied customers
My daughter wants to invest £50,000 into a property I am purchasing
My daughter wants to invest £50,000 into a property I am purchasing with my wife as our main home (she received it in a will from her uncle) . My daughter already owns her own home and will at no time… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,045 satisfied customers
I HAVE JUST BUILT A NEW HOUSE AND INTEND TO SELL IT. wOULD
I HAVE JUST BUILT A NEW HOUSE AND INTEND TO SELL IT. wOULD MY WIFE AND MYSELF HAVE TO PAY CAPITAL GAINS TAX. I AM DISABLED AND LIVING ON BENEFITS.… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
6,362 satisfied customers
Hi. My wife and I bought a house in June 1999 for 127,500.
Hi. My wife and I bought a house in June 1999 for £127,500. we lived there until February 2005 when we moved out, renting the house out in the process. We now have bought another property which we hav… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
6,362 satisfied customers
We want to know if we would be liable for CGT as a married
We want to know if we would be liable for CGT as a married couple. A house was gifted from mother to daughter in 2001. Mother continued to live there. In 2004 the property was sold and another was bou… read more
Sam Pathak
Sam Pathak
Chartered Tax Adviser
Master's Degree
392 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
16,045 satisfied customers
My wife and I are building a house in the garden to sell at
My wife and I are building a house in the garden to sell at a profit (hopefully!). At current market prices we hope to realise a profit of £44,000 (excluding the value of the land). I pay income tax a… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,572 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
My husband and I jointly own a property which we are in the
My husband and I jointly own a property which we are in the process of selling. It will attract a CGT liability. The gain will be £ 55, 000 .I am a higher rate tax payer , my husband is not. Please ca… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,045 satisfied customers
Id like to know how much capital gains tax I will have to
I'd like to know how much capital gains tax I will have to pay when selling a second property? We purchased the property in june 2000 for £73,500 and lived there for 4 years until we moved out in sept… read more
Andrew Baker(baktax)
Andrew Baker(baktax)
Personal Tax Adviser
High School or GED
756 satisfied customers
My French wifes father died 3 years ago. Sixteen years ago
My French wife's father died 3 years ago. Sixteen years ago he donated the family house to my wife and her sister retaining the righr to residency. My wife's sister is in poor health and wishes to sel… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,045 satisfied customers
I have bought a house with friends although the deeds are in
I have bought a house with friends although the deeds are in my name - what are the tax implications on us if we sell and make a profit on the house?… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,045 satisfied customers
My wife and I bought a second house (call it House 2) 2 years
My wife and I bought a second house (call it House 2) 2 years ago: we moved into it 4 months ago and this is now effectively our prime residence. Currently we pay full council tax on our first home (H… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,045 satisfied customers
Sold second property in 2008 after 12 years of ownership. This
Sold second property in 2008 after 12 years of ownership. This second property was our UK base while working abroad - main residence was let during that period, 1994-1999. Question: is cabital gains t… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,045 satisfied customers
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