Hi,
I live in a property which I purchased for £37k 10 years ago. I am now looking at selling the property to go travelling. The value has now risen to £150k. What tax implications are there when I receive a cheque for £113k after paying my mortgage off?
Many Thanks
Peter
Selling to travel....
2 posts • Page 1 of 1
by Ian McTernan CTA on Wed May 19, 2004 11:26 am
Provided you lived there and there only throughout the period under review, then it qualifies as your PPR and no UK tax to pay. Ensure you sell before you arrive in another country to avoid any chance of being taxed in the country you arrive in (brief summary of situation only).
Ian McTernan CTA
McTernan Associates Ltd
Chartered Tax Advisers
ian@imcternan.com
Ian McTernan CTA
McTernan Associates Ltd
Chartered Tax Advisers
ian@imcternan.com
- Ian McTernan CTA
- Posts: 1131
- Joined: Wed Aug 06, 2008 3:02 pm
2 posts • Page 1 of 1
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