The arrangement was initially set up as 99% has no income and 1% higher rate tax payer. I am not clear on how this would affect Capital Gains Tax with this ratio if left as is. We did live in the property for 10 years and have let it for the last 6 years but now want to sell as soon as the current mortgage deal ends.
Hi everyone, newbie here I wonder if anyone has any experience with a Declaration of Trust reversal? We have one in place 99% wife & 1% husband and are planning on selling our rental property in the new year as that's when our current mortgage deal ends so then no ERC would apply but mortgage will increase by nearly £150. Do we reverse this before we give the tenants 2 months' notice or just before we put the property up for sale?