Allow Landlords to evict tenants where there are 14 days rent arrears14:34 PM, 1st October 2020
About 3 weeks ago 97
Capital Gains Tax Reduced – from 28% to 20% for higher rate tax payers and from 18% to 10% for low rate tax payers from April 2016. However there will be an 8% surcharge on residential property leaving Landlords selling at the same old rate!
My wife and I own a single title building where the top two floors are BTL and the ground floor is let Commercially – a cafe and two storage units, to three different tenants.
I am now selling it for £990,000. Notwithstanding that there are a few improvement costs etc, to deduct, we would hope to benefit from the reduced CGT (8%) on the commercial part.
For this purpose I could value it as two thirds BTL and one third commercial. But that seems too simple, so I am thinking of asking the buyer to give me his valuers written opinion as to the separate values.
The other option is to employ a professional surveyor/valuer myself.
Does anyone have any comments on this or see any tax complications please?
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Our mission is to facilitate the sharing of best practice amongst UK landlords, tenants and letting agentsLearn More