I took a call from a worried man yesterday. A very worried man. He is busy selling a house and his solicitor rightly spotted that he might have an issue with capital gains tax because it has been rented in the past. If you sell a house that hasn’t always been your home there is […]
Category Archives: Capital Gains Tax
Home is where the wine is In a recent tax case, a couple successfully appealed against a £3.3 million capital gains tax (CGT) assessment following the sale of their extensively renovated Chelsea property. The central issue revolved around whether the property qualified for Private Residence Relief (PRR), which exempts gains from CGT when selling your […]
Hold on? Is there really no CGT on company properties? Correct! There is no CGT to pay when a company sells a property. But… It’s always the news that comes after the “but” isn’t it. I like you but… Your hair is nice but… So companies pay corporation tax. You probably knew that. They pay […]
What a strange world the property world is! There has been so much chat about increases in capital gains tax the people are listing their properties for sale and somehow it has dragged prices up!? How can that be? What is causing it? Is the movement in mortgage rates are giving the market a boost […]