{"id":122511,"date":"2021-10-11T13:00:24","date_gmt":"2021-10-11T06:00:24","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/i-want-to-buy-a-new-house-and-turn-mine-into-rental-property-do-i-have-to-pay-capital-gains-tax\/"},"modified":"2021-10-11T13:20:36","modified_gmt":"2021-10-11T06:20:36","slug":"i-want-to-buy-a-new-house-and-turn-mine-into-rental-property-do-i-have-to-pay-capital-gains-tax","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/i-want-to-buy-a-new-house-and-turn-mine-into-rental-property-do-i-have-to-pay-capital-gains-tax\/","title":{"rendered":"I want to buy a new house and turn mine into rental property. Do I have to pay capital gains tax?"},"content":{"rendered":"


\nI also plan to put the rental into trust for my son when he turns 18, but I am confused about the levyQ I am really confused about capital gains tax. I\u2019ve just put an offer on a second house, in which I plan to live. I also plan to release equity from my current home and turn it into a rental property as it is very lettable. I bought my current home approximately 13 years ago for \u00a3130,000. It is now worth \u00a3265,000. My hope is to release 75% of the equity in it to buy my new house.What capital gains tax will I have to pay? It was rented out for two years when I worked abroad and I plan to rent it out for another five years after I buy my new home. I only have estimates of solicitors\u2019 fees and so on when buying the house I plan to let as I didn\u2019t keep records and lost some documents when I went to work abroad. Continue reading…
\n
\nSource : theguardian.com
\nRead more…I want to buy a new house and turn mine into rental property. Do I have to pay capital gains tax?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

I also plan to put the rental into trust for my son when he turns...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-122511","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vRZ","jetpack-related-posts":[{"id":105501,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capital-gains-tax-what-will-it-mean-for-your-property\/","url_meta":{"origin":122511,"position":0},"title":"Capital gains tax: What will it mean for your property?","date":"March 28, 2019","format":false,"excerpt":"\r In the final of a five-part series on the effects of a capital gains tax, ANNE GIBSON looks at what it could mean for property. Status quo Profits on selling property are generally untaxed. If you buy a rental, and later sell...\r \r Source : nzherald.co.nz\/Property\r Read more...Capital gains\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111975,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/will-i-have-to-pay-capital-gains-tax-on-rental-income-when-i-sell-my-house\/","url_meta":{"origin":122511,"position":1},"title":"Will I have to pay capital gains tax on rental income when I sell my house?","date":"October 29, 2019","format":false,"excerpt":"\r I plan to have two lodgers while still living in the property \u2013 my only houseQ Please can you clarify for me whether I am likely to be required to pay capital gains tax on my rental income when I decide to sell my house?\u00a0I plan to have two\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21248,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/i-want-to-know-where-i-stand-regarding-capital-gains-tax\/","url_meta":{"origin":122511,"position":2},"title":"I want to know where I stand regarding capital gains tax","date":"July 28, 2016","format":false,"excerpt":"\r Will I be liable, as a home owner and landlord, for a charge if I buy another property before selling the one I live in? Q I need to obtain clarity on whether I would pay capital gains tax on purchasing a property using a bridging loan whilst I\u2019m\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":91998,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ex-rental-property-will-incur-capital-gains-tax-when-sold\/","url_meta":{"origin":122511,"position":3},"title":"Ex-rental property will incur capital gains tax when sold","date":"September 23, 2013","format":false,"excerpt":"\r A couple plan to move into a home they have owned but rented out for 25 yearsMy husband is looking to sell our family house and we will move into a property that I own, which I have been renting out for 25 years. How long must we live\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":27731,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/will-i-pay-cgt-if-i-sell-my-buy-to-let-to-help-fund-a-new-home\/","url_meta":{"origin":122511,"position":4},"title":"Will I pay CGT if I sell my buy-to-let to help fund a new home?","date":"September 29, 2016","format":false,"excerpt":"\r I\u2019m hoping I don\u2019t need to pay capital gains tax as I am using the \u2018gain\u2019 to help me move from one main residence to anotherQ I would really appreciate your advice on capital gains tax (CGT). I own a second property, which I have let out for the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":140740,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/i-plan-to-sell-my-rented-out-property-to-buy-a-dream-home-will-i-have-to-pay-capital-gains-tax\/","url_meta":{"origin":122511,"position":5},"title":"I plan to sell my rented-out property to buy a dream home. Will I have to pay capital gains tax?","date":"December 18, 2023","format":false,"excerpt":"\r I lived in the \u00a3330,000 house before moving in with my partner but may accept \u00a3310,000 for quick saleQ I am in the process of selling a property to buy another and I am a bit confused about whether capital gains tax (CGT) will apply, so I was hoping\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/122511"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=122511"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/122511\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=122511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=122511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=122511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}