Rental Trust - rental portfolio property. (bought 2008 )
Okay I have lost about 150k through doing a stupid flat conversion.
House cost 400k, and was valued at 450k.f
Flat consent etc cost about 275k..
Valuation will be about 550k.
So 100k equity gain on a spend of 275k.
So lost about 175k.
If I sold now I would make a capital loss of about 125k.
Can this be used to my tax advantage.
I have done trading last 2 years, If I sell a property I just bought last year and make a capiatl gain of say 75k.
Would that capital gain be offset against the capital loss.
Or under the new rules, if you are also a trader, as well as an investor.
Can you only be taxed on capital gains, but not be able to access capital loss's ???
Okay I have lost about 150k through doing a stupid flat conversion.
House cost 400k, and was valued at 450k.f
Flat consent etc cost about 275k..
Valuation will be about 550k.
So 100k equity gain on a spend of 275k.
So lost about 175k.
If I sold now I would make a capital loss of about 125k.
Can this be used to my tax advantage.
I have done trading last 2 years, If I sell a property I just bought last year and make a capiatl gain of say 75k.
Would that capital gain be offset against the capital loss.
Or under the new rules, if you are also a trader, as well as an investor.
Can you only be taxed on capital gains, but not be able to access capital loss's ???
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