Cityliving
Registered User
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Hey there,
If you have an apt for 3 years and 11 months bought in March 2004 (so 4 years in March) and I started renting it out from Feb lets say.
The new rules say that I now dont have to pay the stamp duty clawback but if I went to sell in 4 years how would I end up paying my CGT.
3 years 11 months = (47 months) - PPR
4 years = (48 months) Rented
Gain = 100K (less deducts)
so 47 divided by 95 (47+48)
((47/95)*100,000)*0.21 = 10,390
Or do you do it based on tax years? As in its 4 years in 2008 as I bought in 2004?
Any help would be greatly appreciated
If you have an apt for 3 years and 11 months bought in March 2004 (so 4 years in March) and I started renting it out from Feb lets say.
The new rules say that I now dont have to pay the stamp duty clawback but if I went to sell in 4 years how would I end up paying my CGT.
3 years 11 months = (47 months) - PPR
4 years = (48 months) Rented
Gain = 100K (less deducts)
so 47 divided by 95 (47+48)
((47/95)*100,000)*0.21 = 10,390
Or do you do it based on tax years? As in its 4 years in 2008 as I bought in 2004?
Any help would be greatly appreciated
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