Is now the time to sell a property that was your home?

Is now the time to sell a property that was your home?

Mark Barrett Mark Barrett

Mark Barrett

★ Business & Tax Strategist ★ Expat Tax Advisor ★ IR35 Tax Advisor ★ Property Tax Specialist ★ Proactive Accountant ★

发布日期: 2019年8月23日
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For disposals on or after 6 April 2020, the tax changes are …

- The “Wrap Around Relief” which is the additional period that’s added to the proportion of time that you lived in the house and therefore, don’t have to pay CGT on that share of the gain again decreases. It used to be 36 months; that’s been changed to 18 months and from 6th April 2020 decreases to 9 months

- The “Lettings Relief” which provided up to ￡40,000 of increase in value free of tax, as an extra relief when you rented out your previous home, is eliminated (unless you still live in the house whilst it’s rented out, or if you’re disabled or now in a care home)

The government has also legislated previous extra-statutory concessions

Now is the time to review your portfolio if it contains a property that was your home

George Tatham-Losh

Move UK- Property Lettings- Property Sales- Property Investment Advisor

5 å¹´

Thanks Mark!?

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