How is capital gains tax calculated - from purchase or remortgage date?
Question I purchased a house in 2002, which I lived in until 2006. I then remortgaged to a buy-to-let and rented out the property. Is the capital gains tax (CGT) worked out from the original purchase date and with the original purchase amount, or from when the property was remortgaged to buy-to-let?
Arthur Weller replies:
The CGT is worked out from the original purchase date and with the original purchase amount. The remortgage is irrelevant for CGT purposes.
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