Postby triciajasmine2 » Mon Apr 03, 2006 2:39 am
Hi, sorry I hadnt been clear, the property my mum is in is loss making on the rent she pays me (revenue loss). The other property has never been nor will be let out , its a straightforward buy, do up, sell on (well, a bit more complicated than that since I bought it as one property but have had an offer on part of the garden which I am accepting before putting the remainder of the property / plot) back on the market. )
This I assume is a capital profit. Therefore hashman, from your second comment I assume I can not link the profit and loss?
BTW, is there anything I should know about selling the garden plot? I bought the whole thing for £235K; am selling half the garden for £30K and putting the rest of the garden / property back on the market at £265K. I assume I will get CGT-ed on all 60K profit (minus allowable fees and expenses).
Many thanks