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Where Taxpayers and Advisers Meet

Can I do This

james 2
Posts:5
Joined:Wed Aug 06, 2008 3:04 pm

Postby james 2 » Thu Jul 10, 2003 3:16 am

In 89 I bought a large house on standard mortgage
i converted the above floors into a flat.i live in the above flat.

in 93 i had a surveyers valuation then converted the downstairs into 2 flats when work had been completed in 95 the flats where then let.

in 2000 the mortgage was paid off in full

Q...should i have claimed the mortgage relife on 2 thirds from 95-2000

Q...regarding CGT would i be liable for the 2 thirds 95-2003.?

Q...I am looking at moving and possibly letting my own flat,or the whole building is it possible to remortgage then use this mortgage to buy my new property then using the intrest on the loan to offset against tax is it possible.? under normal circumstance i know the answer to the qestion.

j

Ian McTernan CTA
Posts:1232
Joined:Wed Aug 06, 2008 3:02 pm
Location:Bedford
Contact:

Postby Ian McTernan CTA » Tue Jul 15, 2003 3:05 pm

I think you need more advice than a quick answer on this board can give, and I would also need a few more details before answers to your questions and a few of my own could be given.

Ian McTernan CTA
McTernan Associates Ltd
Chartered Tax Advisers
Ian@imcternan.com
McTernan Associates Ltd
Chartered Tax Advisers
Bedford
Email through link on website:
http://www.imcternan.com


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