H
homerjay
Guest
I'd be grateful if anyone could gimme their 2 cents on this. My q involves 3 properties, 1,2 and 3.
1. Bought in 1997 and PPR until 3 bought.
2. Bought in 2003 rented out.
3. Bought in 2004 to live in after I sell 1.
I remortgaged 1 in 2003 to help me buy 2.
I just bought 3 and have 1 on the market for sale at the moment.
My question is what cgt will I pay on the sale of 1 ?
Will it simply be 20% of the current market value less the indexed 1997 purchase price ?
Are there any ways of avoiding the cgt ?
Thanks
1. Bought in 1997 and PPR until 3 bought.
2. Bought in 2003 rented out.
3. Bought in 2004 to live in after I sell 1.
I remortgaged 1 in 2003 to help me buy 2.
I just bought 3 and have 1 on the market for sale at the moment.
My question is what cgt will I pay on the sale of 1 ?
Will it simply be 20% of the current market value less the indexed 1997 purchase price ?
Are there any ways of avoiding the cgt ?
Thanks