Y Yambo Guest 13 Jun 2006 #1 Hi, I have a number of rental properties and am looking at selling one to pay off the mortgage on my PPR. Do I have to pay capital gains tax on the proceeds of this sale as it is going into my PPR ? Thanks
Hi, I have a number of rental properties and am looking at selling one to pay off the mortgage on my PPR. Do I have to pay capital gains tax on the proceeds of this sale as it is going into my PPR ? Thanks
C ClubMan Registered User Messages 53,023 13 Jun 2006 #2 Yes. What the proceeds are used for is immaterial to the CGT issue. Similarly rollover relief for CGT was abolished a few years back.
Yes. What the proceeds are used for is immaterial to the CGT issue. Similarly rollover relief for CGT was abolished a few years back.