Hi I would love some advice on the tax implications on me and my uncle.
He built a second property and has rented it since building it (he has never lived there) but now is happy to sell it to at a lower than market value.
The house is worth 300k and he is happy to sell to me at 200k.
The house cost him approx 150k to build.
What tax implications will we both face or what would be the best way to do the sale?
Any advice or help welcome !
He built a second property and has rented it since building it (he has never lived there) but now is happy to sell it to at a lower than market value.
The house is worth 300k and he is happy to sell to me at 200k.
The house cost him approx 150k to build.
What tax implications will we both face or what would be the best way to do the sale?
Any advice or help welcome !