J
jj47
Guest
I have lived in my ppr for 5 years. I now wish to purchase a larger property plus an investment property and wish to sell my ppr. I have a small mortgage outstanding (approx 20k - value of property 200K). North west area.
My question is as follows.
What happens if i just rent out my PPR and get another mortgage to buy the new house. If i then go to sell the rented property in the future how will my CGT be assessed? Will it be based on the value of the property when i first rented it out or the value when i first purchased it?
Any advise on the best way to go about this would be appreciated.
Thanks
My question is as follows.
What happens if i just rent out my PPR and get another mortgage to buy the new house. If i then go to sell the rented property in the future how will my CGT be assessed? Will it be based on the value of the property when i first rented it out or the value when i first purchased it?
Any advise on the best way to go about this would be appreciated.
Thanks