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ode
Apprentice
Joined: 08 Jan 2005
Posts: 3
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 Posted: 09/17/11 - 07:43 Post subject: |
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| Hello people. I was wondering if you could give me some information about private residents relief. I would like to sell my house and I am quite bothered with taxes. How can I get some exemptions when it comes to taxes? Thank you in advance for your posts. I’m looking forward to see them. |
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perren
Apprentice
Joined: 17 Dec 2008
Posts: 4
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| Posted: 10/17/11 - 02:31 Post subject: |
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| Hello to you too. You know that, when you’re selling some property, you are liable for capital gains tax. It is a tax on a difference between the price that you’ve paid for the property and the price that you will get when selling. It is regarded as a capital gain which needs to be taxed. Now, if your house is nominated as your principal private residence, you don’t have to pay CGT. So, check that out. That is all I can tell you about your case. I hope that you will find this post useful. I wish you all the best. Take care! |
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