kevfin Posted October 5, 2006 Report Share Posted October 5, 2006 Hi, Can anyone give advice on cgt?Is it possible to avoid cgt by putting any profit from property appreciation into your own mortgage or by buying more property??Any helpould be greatly appreciated. Kevin. Link to comment Share on other sites More sharing options...
plym77 Posted October 8, 2006 Report Share Posted October 8, 2006 Hi Kevin The suggestion you have will unfortunately not work. CGT basicaly compares the purchase price with the selling price (there are costs, and may be improvements to take in to account too), you also get taper relief once a property has been owned for 3 years. There are ways to defer CGT by re-investment in to some forms of property or investment, but not by just buying more buy to let properties I am afraid. This is specialist advice and so I cannot go into this on this forum as I would need to caveat the post with a very long statement!! If you are married there are also some tax savings that can be made this way too, if the property is not already in joint names Unfortunately, it is very difficult to help in a general way, however, if you have an accountant, speak to him about mitigation or deferment, alternatively, please do email me if you are looking for specific tax advice in this area. What I will say is that unless your capital gain is substantial, deferment by use of further investment is not always the best option and is usually taken up by more liquid individuals who are less likely to need the proceeds of a sale straight away. I am sorry I cannot help any further, but this really is a specialist subject and it is not viable to put this on this forum Sherena Link to comment Share on other sites More sharing options...
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