Hi All,
I just purchased a house of my parents for 400k last year in September, I rented it out straight away.
So in eg 3 years time its worth 500k, increase of 100k I pay 50% CGT to gov and I get the other half etc ?
If let say I rent it out for 2 years, then decided to live in it for say 12months, then rent it out again. Would there be any tax benefit.
Ideally I should of lived in it etc then I know the 6 year rule CGT free. live and learn
I just purchased a house of my parents for 400k last year in September, I rented it out straight away.
So in eg 3 years time its worth 500k, increase of 100k I pay 50% CGT to gov and I get the other half etc ?
If let say I rent it out for 2 years, then decided to live in it for say 12months, then rent it out again. Would there be any tax benefit.
Ideally I should of lived in it etc then I know the 6 year rule CGT free. live and learn