Shelter’s Income and expenditure figures highlighted13:57 PM, 4th February 2019
About 2 weeks ago 35
14:56 PM, 27th December 2017
About A year ago
For those of us who have held properties for a long period of time you are all probably aware that once upon a time there was a thing called ‘Taper Relief’ which year by year reduced your liability to CGT should you sell the property.
That relief was disposed of some years ago by HMRC. Now we have a regime where there are very few ways of reducing the CGT liability should you sell an investment property and the tax rate is high.
I dare say that there are others, like myself, who were considering selling a property (or properties) but have decided not to do so because of the punitive tax rates.
For myself I wanted to sell because I wanted to transfer my money into another type of property investment. It seems a ridiculous situation that there is no allowance made when you intend to reinvest the money (gains) in another property based business.
For some reason HMRC do not seem to view property letting in a business way!
Should we not pressure the HMRC to have some structure of allowances for people wishing to sell and then reinvest ?
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
|“Account”||means an account required to access and/or use certain areas and features of Our Site;|
|“Cookie”||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;|
|“Cookie Law”||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;|
|“personal data”||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and|
|“We/Us/Our”||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.|
|Name of Cookie||Purpose||Strictly Necessary|
|JSESSIONID||Used only to collect performance data, with any identifiable data obfuscated||No|
|__cfduid||This cookie is strictly necessary for Cloudflare's security features and cannot be turned off.||Yes|
|Name of Cookie||First / Third Party||Provider||Purpose|
|__utma, __utmb, __utmc, __utmt, __utmz||First||Helps to understand how their visitors engage with our website|
Our mission is to facilitate the sharing of best practice amongst UK landlords, tenants and letting agentsLearn More