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Not an issue yet if you have less than 4 properties in your name. You are not a portfolio landlord. If you have 3 of the same such yielding properties, you will be in trouble.
With such low yields why not invest in good yeilding shares put them in an ISA and its tax free
a lot less bother than BTL
Learn Change and Adapt ?????
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Yep, I agree, and hence why I made the thread about 'no CG, why bother'?
I can't see any suitable properties at the moment for the massive cash input required (c. £60k including fees), especially not when I'd be getting a few hundred quid a month!
I'm looking towards AIM now.
A bit of a curve-ball for ya.
Freehold mixed-use shop with 2 self-contained 1 bed flats for £525,000 renting for £12k shop and £10,800k each for the flats.
Leaving aside the overall yield for a moment.
Split the title and create leases on the 2 flats.
Sell flats for £250k each and retain the shop.
Err, why no CGT? Puzzled
Purchase price £525k
Proceeds from sale of 2 flats £500k
So no profit has been made until the shop is sold - whenever that may be
I could be wrong, but think that might not work.
I think that's where something called apportionment comes in, you need to pay CGT for the gain on each flat sold off, based on the apportioned value. Essentially, the £525k has to be split into the value of shop and each of two flats.
Interested to hear if that's wrong though, as I go through a similar situation soon selling off some of my garden land, on my residence that was unfortunately rented for 7 months of 4 years ownership.
That sounds logical, especially as dwellings are treated differently for CGT than commercial properties, so you may well be right. But, as with the value of a property at the time of first letting being the benchmark for loan interest allowance, I wonder if it would work in a similar way where value is set at the time of title split?
Good Evening Adam,
Sorry to hear about your frustrations. May I ask what is it that you are looking for, yield, capital growth or both?
and which area in London?
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