Remortgage amount
Bought the 2nd property in 2001 for 80,000
last year in January, remortgaged the property and took £50,000 from it.
Do we need to calculate the CGT for this £50,000?
Thanks all
No
you don't.
CGT is due when you sell the property on proceeds less original cost
Thank you very much
Is this a rental property. Regards Peter