Musical chairs; Retirement plans; Sister act; Going to penalties
Musical chairs
CGT implications of main residence election on property renovation.
I have lived in my current property as a main residence since 2002. I still have a buy-to-let property which I bought in 1995 and is my previous main residence. I have been renting this out since 2002.
I am now looking to demolish my existing home and am planning to rebuild. During this period I am trying to understand the tax implications of moving back to the rented property and making it a main residence for the duration of the build. I would then seek to sell the main residence (previously the buy-to-let) before moving back to the rebuilt home.
Could readers advise me on what the capital gains tax implications of doing this would be?
Query 19 175– Builder.
Retirement plans
Tax treatment of loan from retiring shareholder to former close company.
My...
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