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No Money Down - Capital Gains..?

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  • No Money Down - Capital Gains..?

    Hi,

    Can anyone shed any light on whether there are capital gains tax implications on doing a no money down deal...?

    I wondered whether the difference between the purchase price and the the mortgage value might trigger this...?

    Thanks for your help!

    Kelly

  • #2
    Re: No Money Down - Capital Gains..?

    Captial Gains Tax does not apply on your main residence - in the event of owning a second property, CGT only applies at the point of sale on the profits made.

    Hope that helps.

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    • #3
      Re: No Money Down - Capital Gains..?

      If you make money on your deal then capital gains would be payable on any profit above the annual capital gainst amount which is £10,100 for 2010 if the gain is tangible.

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