Dear Sir or Madam, My name is***** living in Oxford. My brother is not a British citizen. He co-invested to buy a house with me in Oxford. 1/We would like to know that how much tax (Capital gains tax), will he have to pay and will I have to pay if we sell the house? 2/The second question is that we are renting the house, how to calculate the tax duty for my brother each month or each year? 3/My brother’s Bank is ANZ in Singapore, after selling the house, how can we transfer money for him? Many Thanks Kim XXX
We are going to buy it for leting. The asking price now is 359.000 and it has been offered for us. My brother will pay 90.000 as deposit and the rest will be paid by my mortgage. We want to know the tax policy for the future when we sell it.
You would need to live in it for a period to qualify for the last 18 months of ownership exemption.Take a look at HS283 for more information.