Welcome to the reallymoving forum
Got questions and need some advice? Our forums have answers on everything from choosing the right property, to renting and selling.
  • If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

Announcement

Collapse
No announcement yet.

Tax return -Selling first home but rented .

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Tax return -Selling first home but rented .

    Dear Moderator , all members.

    I am selling my first home with tenant.
    I bought in 2017 and now selling.I couldn't stay that home due to my unstable circumstances.As I couldn' t move to my first home I am not interested to re mortgage.
    Questions -England and wales law.
    1 . Do I need to produce a rental income tax declaration before I sale.
    2. It is my first home thats why I never paid tax on the income.Do I need to pay HMRC now ?.
    3. Should I pay capital gain ? .As I haven't used this home as my residence.
    4.Can a conveyancing solicitor stop me selling process just because I am not registered as landlord with HMRC ?
    I would be grateful for your help.
    kind regards
    Last edited by Paulsandy; 22-10-2019, 05:26 AM.
Working...
X