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Where Taxpayers and Advisers Meet

CGT + Stamp + Early mortgage repayment

tarpitman
Posts:1
Joined:Mon Jun 26, 2017 8:33 am
CGT + Stamp + Early mortgage repayment

Postby tarpitman » Mon Jun 26, 2017 8:53 am

Hi

I have found myself in a lucky position where I have enough funds to buy a property I have seen outright.

The 3 issues I have are with regards to Capital Gains Tax, Increased stamp duty on second home & Early mortgage repayment fees. My current mortgage deal ends in a year, so I would like to avoid paying early repayment fees.

Would I be correct in assuming, that if I purchase the second property and refurbish it whilst living in the first property, and I sell the first property within 18 months, I will not pay any CGT and will be able to claim back the increased stamp duty ?

Thanks in advance

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