{"id":70442,"date":"2017-10-30T19:38:09","date_gmt":"2017-10-30T12:38:09","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-capital-gains-tax-liable-on-an-inherited-property\/"},"modified":"2017-10-30T20:04:24","modified_gmt":"2017-10-30T13:04:24","slug":"is-capital-gains-tax-liable-on-an-inherited-property","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-capital-gains-tax-liable-on-an-inherited-property\/","title":{"rendered":"Is capital gains tax liable on an inherited property?"},"content":{"rendered":"


\nFor 15 years I\u2019ve never really lived in the property, and now I plan on selling itQ I retired 10 years ago and split my time between my holiday home in the Algarve for six months of the year and travelling in my motor home. I do not have a main residence in the UK, but I did inherit a flat which I have rented out for approximately 15 years \u2013 although when I have needed to work on it I have lived there.This year I will be 65 and want to sell the flat and buy a main residence for myself and my wife in the UK. I have always declared any income from the flat on my self-assessment tax return. My question is, will I be liable to pay capital gains tax on the sale of the flat, and if so how will it be worked out as it was an inherited property. MF Continue reading…
\n
\nSource : theguardian.com
\nRead more…Is capital gains tax liable on an inherited property?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

For 15 years I\u2019ve never really lived in the property, and now I plan on...<\/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-70442","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-ika","jetpack-related-posts":[{"id":21248,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/i-want-to-know-where-i-stand-regarding-capital-gains-tax\/","url_meta":{"origin":70442,"position":0},"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":2170,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/would-a-gifted-house-deposit-be-liable-for-tax\/","url_meta":{"origin":70442,"position":1},"title":"Would a gifted house deposit be liable for tax?","date":"December 18, 2013","format":false,"excerpt":"\r My sister says anything our parents give me could attract inheritance tax and capital gains taxQ My parents want to help me with a deposit on a flat. My sister thinks that if they give me any more than the \u00a33,000 which can be passed under an annual exemption,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":177,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/i-have-to-sell-a-flat-thats-rented-out-how-much-capital-gains-tax-will-i-pay\/","url_meta":{"origin":70442,"position":2},"title":"I have to sell a flat that's rented out \u2013 how much capital gains tax will I pay?","date":"November 19, 2015","format":false,"excerpt":"\r I am wondering if I would avoid the tax if I moved back into the flat and made it my main home until it sold Q I bought my flat for \u00a344,000 in February 1997 and lived there alone until February 2011. My girlfriend and I then bought and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":944,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/am-i-liable-for-capital-gains-tax-after-letting-my-house\/","url_meta":{"origin":70442,"position":3},"title":"Am I liable for capital gains tax after letting my house?","date":"August 21, 2014","format":false,"excerpt":"\r I lived and worked abroad, and then when I came back, I carried on letting the houseQ I\u2019m confused about capital gains tax. I purchased my property in 2006 for \u00a3159,000 with a mortgage of \u00a3147,500. I am just about to complete on the sale of my property which\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110020,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/i-want-to-sell-my-uk-home-can-i-avoid-capital-gains-tax\/","url_meta":{"origin":70442,"position":4},"title":"I want to sell my UK home; can I avoid capital gains tax?","date":"August 19, 2019","format":false,"excerpt":"\r I\u2019m a Jersey resident and hear that if I live in my UK house for a year, I don\u2019t have to payQ I live in Jersey in the Channel Islands and am looking at selling a house in the UK that I have been renting out for more than\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":76020,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-does-my-uncle-have-to-pay-capital-gains-tax\/","url_meta":{"origin":70442,"position":5},"title":"Why does my uncle have to pay capital gains tax?","date":"July 25, 2012","format":false,"excerpt":"\r Before moving into a home, he had lived in his house for more than 30 yearsQ My uncle moved into a care home on the Isle of Wight late last year because he was unable to look after himself properly (he is now 95). He put his house on\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\/70442"}],"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=70442"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/70442\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=70442"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=70442"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=70442"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}