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Dear XXXXX, We sold our second home for £205k. How much do
Dear XXXXX, We sold our second home for £205k. How much do we have to pay for capital gains? We bought the the property in 2002 for £155k. The house was our main home from the time we bought it until … read more
bigduckontax
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Hi Sam, My brother, sister and I inherited my Mums home
Hi Sam, My brother, sister and I inherited my Mum's home in May 2010. We tried to sell it but couldn't. My husband & myself remortgaged our own home and refurbished my Mum's home to make it more salea… read more
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Sam
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We bought an old bungalow in 2006 for 135k with the view to
We bought an old bungalow in 2006 for 135k with the view to demolishing it and replacing it with a new build, using the equity from the sale of our family home to finance the build. The planning proce… read more
Tony Tax
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Hi. Re the above question regarding the sale of my parents
Hi. Re the above question regarding the sale of my parents house on my fathers death. I have to complete my tax return and I want to know if it is too late to use the house as inheritance tax as I und… read more
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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
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Hi, Having had our endowment matured, we put down deposits
Hi, Having had our endowment matured, we put down deposits on a flat for our son who is at Uni. My wife and I have 50% interest in the flat, which is our son's main residence, but service 100% of the … read more
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Hi My wife and I are in the process of re mortgaging our home
Hi My wife and I are in the process of re mortgaging our home to purchase a second home, the second home will eventally be our retirment home and we plan to let out our main residence until we eventua… read more
taxadvisor.uk
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Hi, my husband and I are thinking of selling our investment
Hi, my husband and I are thinking of selling our investment properties which we have both owned separately for around 15 years. Both properties are in our single names and were our main residences bef… read more
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I USED 3 ROOMS OF OUR SIX BEDROOM HOME AS A B and B FOR ABOUT
I USED 3 ROOMS OF OUR SIX BEDROOM HOME AS A B and B FOR ABOUT 20 YEARS . WE HAVE OWNED THE HOUSE FOR 41 YRS. AND IT IS OUR HOME AND ONLY RESIDENCE. IHAVE BEEN RETIRED FOR ABOUT 4 YRS. IT NEVER OCCURRE… read more
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My wife and I bought a property in July 2004 for 194,500.
My wife and I bought a property in July 2004 for £194,500. We spent at least £40k renovating it (Not all receipts were kept). This was our home until December 2009 when my wife was offered a loan from… read more
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we live in our main home and are contemplating buying out my
we live in our main home and are contemplating buying out my 2 brothers to purchse my mothers house who has just died. If we do this and use a remortgage on our main home to purchase this second home … read more
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My wife owned a property in her sole name, this was our main
My wife owned a property in her sole name, this was our main residence. We then got an equity release to purchase our new residence and put the first property on rent. Are we allowed to off-set the in… read more
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I bought a house in 2000 for 60000 lived in for 6 years then
I bought a house in 2000 for £60000 lived in for 6 years then rented for 5. It was worth £160000 in 2006 when i moved out but now is worth less @ £150000.( I understand I would not pay CGT for 6years … read more
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Hi, question on CGT - I purchased a flat in Oct 1993 with my
Hi, question on CGT - I purchased a flat in Oct 1993 with my mother for £57,750 - 75% in my name and 25% in my mother's name. Her share was subsequently transferred to my sister some 8 years ago. Ther… read more
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I have a sand stone villa in Glasgow. I am hoping to split
I have a sand stone villa in Glasgow. I am hoping to split it into two flats and sell off the top flat to pay off my mortgage. Can you advise me will selling the flat will incur capital gains' tax. If… read more
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We are planning to sell our French holiday home soon which
We are planning to sell our French holiday home soon which we have owned for 18 years so we are not liable for French capital gains tax. Are we still liable for GGT in UK where we have our principal h… read more
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I remortgaged a home that I lived in before I got married to
I remortgaged a home that I lived in before I got married to raise the deposit for another property that I wanted as the matrimonial home (Oct 2007) I did not sell the first house as the market was ba… read more
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Hi, my husband and I have a property that used to be our family
Hi, my husband and I have a property that used to be our family home, we purchased it in 1997 for around £64,000 and borrowed a further £10,000 to make improvements. in 2002 we moved out and let the p… read more
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