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Where Taxpayers and Advisers Meet

Running a business from - tax allowance /CGT

Graham1
Posts:22
Joined:Wed Aug 06, 2008 3:13 pm

Postby Graham1 » Fri Aug 27, 2004 9:54 am

Help please.

I ran a business from a rented property, also my residence, and claimed 25% tax relief from the rent.

I have now purchased a property that I use as my PPR and run the same business from, I believe that should I claim 25% tax relief from the mortgage payments (capital and interest), on selling the property I will be libel for 25%.CTG. As the mortgage is ‘interest only’ will I still be libel for CGT?

Thank you,

Graham

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