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This is a question about Capital Gins Tax. Unfortunately I
This is a question about Capital Gins Tax. Unfortunately I have had 2 conflicting answers from your site.Please can you pass my question to someone who knows about Capital Gains Tax. My Question is: I… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,716 satisfied customers
we have sold a rented house we jointly owned for 20 years buying
we have sold a rented house we jointly owned for 20 years buying it for £43,000 & selling it for £200,000.do we have allowances against capital gains tax,we are retiring, my husband is 76 yrs. & I an … read more
Sam
Sam
Accountant
Higher Officer HMRC
6,716 satisfied customers
I am currently letting my original family home in Edinburgh
I am currently letting my original family home in Edinburgh and living and working in glasgow with my new partner. We are not married but bought a house together. My home in Edinburgh is therefore not… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,716 satisfied customers
Hi, I bought a property in 1999 for 120k with a joint mortgage
Hi, I bought a property in 1999 for £120k with a joint mortgage with my mom as I was staying with my parents. My dad was unemployed then hence the reason for a joint mortgage with my mom. After gettin… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,716 satisfied customers
Hello, We are looking into the costs of selling our 15 bedroom
Hello, We are looking into the costs of selling our 15 bedroom hotel in Bournemouth, and are trying to work out how much capital gains we would have to pay. We would be very grateful for any advice yo… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,716 satisfied customers
I am confused with HMRCs information about Capital Gains Tax.
I am confused with HMRC's information about Capital Gains Tax. In 1999, when both my sons were students in Canterbury, I purchased a flat. I have let the flat to other tenants since 2003. The value is… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,716 satisfied customers
For the TAX EXPERT My husband and I own a property (shop)
For the TAX EXPERT My husband and I own a property (shop) that has never been our home. The retail business is in my husband's name only and he wishes to retire, wind the business up and sell the prop… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,716 satisfied customers
I bought into a property which my sister and parents had bought
I bought into a property which my sister and parents had bought as a holiday home several years ago. My sister had £90k in it and my parents £38K. I payed my sister £60k to buy into the house. She sub… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,716 satisfied customers
If we were to buy a property to renovate and sell through a
If we were to buy a property to renovate and sell through a commercial mortgage what are the tax implications for incom or capital gains if we were to make a profit Thanks A Sloane… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,716 satisfied customers
Good morning, I am planning on selling a property which I been
Good morning, I am planning on selling a property which I been renting out for the past 7 years. I bought the property in 2001 lived in it until April 2004 and have rented ever since. I would now like… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,716 satisfied customers
I bought a property (for 200,000) in February 2000 and lived
I bought a property (for £200,000) in February 2000 and lived in it until 2003. At the time it was valued at £350,000 if we were to sell but we let the property until now. If I sell it for £400,000 th… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,716 satisfied customers
Selling 6 bed guesthouse ( My only residence) after 10 years.
Selling 6 bed guesthouse ( My only residence) after 10 years. Bought for £250 selling for £420. Still owe £100k mortgage. Approx what, if any cap gains wd I pay?… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,716 satisfied customers
Hi, I bought a house in 1987 where I lived with my parents,
Hi, I bought a house in 1987 where I lived with my parents, mainly to care for my mother, who died 10 years ago. I then bought my own small house where I live now, a short distance from the first one.… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,716 satisfied customers
In year 2000 I lost my job, sold my house and met a woman. Basically
In year 2000 I lost my job, sold my house and met a woman. Basically I can show from my bank accounts that I spent £50,000 in the 4 years that I was living with her. That went on £33,000 for half the … read more
Sam
Sam
Accountant
Higher Officer HMRC
6,716 satisfied customers
My question relates to Inheritance/ CG tax Last year my mother
My question relates to Inheritance/ CG tax Last year my mother died leaving her bungalow to my sister and I (worth approx £130k). About 15 years ago my sister and I were put on the deeds as having a q… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,716 satisfied customers
My wife and I bought a property jointly in 1998 at a cost of
My wife and I bought a property jointly in 1998 at a cost of £77,000 and lived in it for 2 years. We then let it out and refinanced it a couple of times to release equity to buy another rental propert… read more
Andrew Baker(baktax)
Andrew Baker(baktax)
Personal Tax Adviser
High School or GED
756 satisfied customers
My husband and I bought a 2nd home approx 4 years ago. The
My husband and I bought a 2nd home approx 4 years ago. The cost was £110k, we raised £60k as a buy to let mortgage and the other £50k was released as equity from our main residience. Since then the pr… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
My parents have no equity in their property. If I buy the property
My parents have no equity in their property. If I buy the property from them at a reasonable market price (effectively terminating) their mortgage, what are the tax implications, if any, of lertting t… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,716 satisfied customers
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