What should I do, House 1,

What should I do, House 1,

Author
Discussion

Rangeroverover

1,523 posts

112 months

Friday 28th October 2016
quotequote all
Jon39 said:
Incorrect presumption.
Debt free.

The problem arises when a second property has been owned for a very long time.
A large proportion of the apparent 'value' increase, is simply due to the devaluation of money as the result of inflation.

The annual CGT allowance makes hardly any difference under these circumstances.

I only mentioned this aspect, because many BTL investors seem completely unaware, that they will encounter this problem many years ahead.



To save £100,000 tax I would be tempted to live in for 6 months then sell it

Jon39

12,848 posts

144 months

Friday 28th October 2016
quotequote all

Rangeroverover said:

To save £100,000 tax I would be tempted to live in for 6 months then sell it
Thank you, that sounds good.
Please provide more information.

Using as the main residence for just the last 6 months, surely would not satisfy HMRC, and wipe out the entire 20 year period of it being a second property.