Hi Brendan,
Will revenue consider this a mortgage writedown or a buyout of a tracker mortgage? And what are the differences from a CGT perspective?
My property is a buy to let, as many of these loans are, what are the tax implications for getting a discount of 40% (say 100k) when I sell in the future?
My mortgage is fully up to date an has no arrears, a writedown means I would have to consider this for CGT purposes when selling the property in the future.
I believe I am being bought out of my tracker rate here essentially, so is there any capital gains consideration for me?
Thanks
Will revenue consider this a mortgage writedown or a buyout of a tracker mortgage? And what are the differences from a CGT perspective?
My property is a buy to let, as many of these loans are, what are the tax implications for getting a discount of 40% (say 100k) when I sell in the future?
My mortgage is fully up to date an has no arrears, a writedown means I would have to consider this for CGT purposes when selling the property in the future.
I believe I am being bought out of my tracker rate here essentially, so is there any capital gains consideration for me?
Thanks