How to avoid capital gains tax when selling a second property?

If that's the case i think you're great, you got off your ass and did something that generates money for you, well ****ing done! :)

Thanks

Its tough and I don't have a social life but I'm hoping to semi retire within the next 5 yrs so If I've not had a heart attack or a stroke before then it's been worth it.

If I've dropped dead then........................
 
How much are you looking to mitigate?

Also, ignore the "honesty tax" inference, HMRC are getting more sophisticated with their targeting. E.g, they actually do check the land registry for change in ownerships.
 
Back to the OP

Have you spent any money other than maintenance on the property.
If you've done an extension etc you can knock that off
 
I see the people Jelly of success have come to troll this thread, while we have people like that in this country we'll never better ourselves and this country in the world

I don't even have 1 house let alone 2, but i don't bemoan people doing what they need to do to be successful in life, in fact a applaud them.

Yeah but your life's a mess isnt it.
 
Thanks

Its tough and I don't have a social life but I'm hoping to semi retire within the next 5 yrs so If I've not had a heart attack or a stroke before then it's been worth it.

If I've dropped dead then........................

They all say that, see you when you're old, owe loads of cash and doing a crap job to pay your debts.
 
I want to know how this world where everyone can be a high earner works.

This is the thing.

The world needs people to do the low-paid, unqualified jobs, because those jobs always need to be done.

People with low-paid jobs, who may or may not have tried hard at school, still need somewhere to live, and still need to have some kind of life.

There should be modest sized, affordable houses for such people. Either to buy or to rent (at appropriate rents, not being fleeced).

It should be possible for people who want to to take low-paid jobs and have a reasonable quality of life. Of course, they won't be taking expensive holidays twice a year; they won't own a nice car; they won't wear expensive clothes and they won't dine at fine restaurants.

But earning a low wage - through choice or through no fault of their own, let's say - should not make you simply a tool for the richer in society to exploit.

In short, why should earning a modest wage be looked down on, and why should it be so difficult to get by on a modest wage? Not only that, but why should so much of that modest income be funnelled towards the richer in society?

So many people think that earning a modest wage makes you lazy, and deserving of being used and abused. People have no compassion, and almost entirely de-humanise these people ("benefit scroungers").

The fact that these people need so many benefits is a reflection of the fact that you simply cannot afford to live if you are a refuse collector, office admin, factory worker, etc.
 
This is the thing.

The world needs people to do the low-paid, unqualified jobs, because those jobs always need to be done.

People with low-paid jobs, who may or may not have tried hard at school, still need somewhere to live, and still need to have some kind of life.

There should be modest sized, affordable houses for such people. Either to buy or to rent (at appropriate rents, not being fleeced).

It should be possible for people who want to to take low-paid jobs and have a reasonable quality of life. Of course, they won't be taking expensive holidays twice a year; they won't own a nice car; they won't wear expensive clothes and they won't dine at fine restaurants.

But earning a low wage - through choice or through no fault of their own, let's say - should not make you simply a tool for the richer in society to exploit.

In short, why should earning a modest wage be looked down on, and why should it be so difficult to get by on a modest wage? Not only that, but why should so much of that modest income be funnelled towards the richer in society?

So many people think that earning a modest wage makes you lazy, and deserving of being used and abused. People have no compassion, and almost entirely de-humanise these people ("benefit scroungers").

The fact that these people need so many benefits is a reflection of the fact that you simply cannot afford to live if you are a refuse collector, office admin, factory worker, etc.

And this is the problem, cost of living has sky rocketed especially in South east. Yet it still needs admin, bin collectors, cleaners etc. so the state has to top up earnings. If only the housing market would crash these people could afford to live. Housing costs are crippling low earners
 
The world needs people with no ambition. One of my best members of staff has no ambition
He's happier than me

He gets paid well and does a good job. Doesn't want or need the stress
 
Lol..Yeah probably. But I'll be no worse off than if I was working to line someone elses pockets.

Very true, I wish you well, really,

The trouble is the few people I have known directly who gave it a go have ended up being done over by either the partner or the bank or both.

Of course I've heard stories of other peoples 'friends' who have done really well.

But anyway, I repeat good luck and well done for trying. I have been on the corporate treadmill for a long time. I often look outside and think what if..
 
The world needs people with no ambition. One of my best members of staff has no ambition
He's happier than me

He gets paid well and does a good job. Doesn't want or need the stress

I was just about to say this.

This thread is just perpetuating the myth that money is the be all and end of life, when in fact it very much is not.

Most people in here seem to think that lacking the ambition to earn more money is a bad trait. There are plenty of people that wil actively not seek to earn more money, because they know full well that with it will come less time to themselves and more stress.

I have a modest income but i am willing to bet i am far happier than a lot of people who earn much more than i do.
 
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Very true, I wish you well, really,

The trouble is the few people I have known directly who gave it a go have ended up being done over by either the partner or the bank or both.

Of course I've heard stories of other peoples 'friends' who have done really well.

But anyway, I repeat good luck and well done for trying. I have been on the corporate treadmill for a long time. I often look outside and think what if..


True true.

However I'm at the top of the tree. So at least I have some control.

My main job is to keep those who work for me in a job.

If I was an employee in a company I have to put all my trust that my bosses don't fail.
 
I was just about to say this.

This thread is just perpetuating the myth that money is the be all and end of life, when in fact it very much is not.

Most people in here seem to think that lacking the ambition to earn more money is a bad trait.

I have a modest income but i am willing to bet i am far happier than a lot of people who earn much more than i do.

I'm not chasing the money as such more the security. My dad worked ALL his life. I don't want to have to do that.

I have friends that can't understand why I do what I do. But I have responsibilities. 50 families are relying on me to pay their mortgages.

I also have friends who have a life. Sometimes I envy them:rolleyes:
 
And this is the problem, cost of living has sky rocketed especially in South east. Yet it still needs admin, bin collectors, cleaners etc. so the state has to top up earnings. If only the housing market would crash these people could afford to live. Housing costs are crippling low earners

On the contrary, state interference is a driver of, not a solution to, the low wage problem.
 
The world needs people with no ambition. One of my best members of staff has no ambition
He's happier than me

He gets paid well and does a good job. Doesn't want or need the stress

The trouble is that whilst this person may be paid well, on the whole they aren't. Average wage for such a person down here is about £12k to £15k. That's taking home at most £1k after tax.

Just having a house to live in can and does take >50% of their net income if they don't qualify for a lot of benefits (being single with no children is a killer). After bills and other living expenses these people have no money left at all.

Instead of a room in a shared house costing £500 pm, we need affordable housing for people with low incomes. It should be basic but good enough not to be considered slum housing. Water tight, heated, lit, running water; not mouldy, damp, single room "studio" flats forming part of someone's "portfolio".

So where is a small place like that for £200/300 pm? Why doesn't it exist (anymore)? Why is the cheapest place to stay for a low earner over half his net income?
 
Keep the discussion on topic please.

If you want to discuss other matters then start your own tread.


How to avoid capital gains tax when selling a second property?

If you don't have anything useful to contribute then don't post!
 
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