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TonyTax
TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15944
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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We have just sold a second property I have been told if we

Resolved Question:

We have just sold a second property I have been told if we reinvest the profits in another investment property the CGT is deffered
Submitted: 2 years ago.
Category: Tax
Expert:  TonyTax replied 2 years ago.

Hi.

The only way that the CGT could be deferred is if the property you have sold is a furnished holiday let and the property you buy is a furnished holiday let or you buy a business asset to be used in a business. In addition, you could invest in small start up companies via the Seed Enterprise Investment Scheme where CGT can be written off altogether or the Enterprise Investment Scheme where CGT can be deferred.

I hope this helps but let me know if you have any further questions.

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