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No Money Down - Capital Gains..? No Money Down - Capital Gains..?

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Old 11-09-2010, 01:47 PM
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Join Date: Sep 2010
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Smile No Money Down - Capital Gains..?
Hi,

Can anyone shed any light on whether there are capital gains tax implications on doing a no money down deal...?

I wondered whether the difference between the purchase price and the the mortgage value might trigger this...?

Thanks for your help!

Kelly
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Old 20-09-2010, 09:06 AM
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Default Re: No Money Down - Capital Gains..?
Captial Gains Tax does not apply on your main residence - in the event of owning a second property, CGT only applies at the point of sale on the profits made.

Hope that helps.
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Old 20-09-2010, 09:33 PM
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Default Re: No Money Down - Capital Gains..?
If you make money on your deal then capital gains would be payable on any profit above the annual capital gainst amount which is £10,100 for 2010 if the gain is tangible.
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