Author Topic: capital gains tax  (Read 5589 times)

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Offline helen

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capital gains tax
« on: August 27, 2009, 15:14:10 PM »
Does anyone know how much tax you pay when you sell your property
we bought in january 2009 and are looking to sell our apartment and want to by something else here so the money will be reinvested in turkey.
thanx



Offline Scunner

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capital gains tax
« Reply #1 on: August 27, 2009, 15:15:11 PM »
25% of the declared profit

Offline helen

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capital gains tax
« Reply #2 on: August 27, 2009, 22:39:21 PM »
scunner this is our sole property we have no property in the uk so does this ammount still apply?

Offline Scunner

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« Reply #3 on: August 27, 2009, 22:42:24 PM »
Sadly yes.

Offline bee

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capital gains tax
« Reply #4 on: August 28, 2009, 13:21:50 PM »
what does the "declared" profit mean. ;)Bee

Offline Scunner

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capital gains tax
« Reply #5 on: August 28, 2009, 13:31:36 PM »
The difference between the untrue value on your current tapu and the untrue value to be put on your purchaser's new tapu :D

Offline bee

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capital gains tax
« Reply #6 on: August 28, 2009, 18:56:14 PM »
so say hypertheticaly, you paid £85000 but you tapu says £60.000 then you sell it £100.000 you would pay £10.000 tax .Bev

Offline KKOB

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capital gains tax
« Reply #7 on: August 28, 2009, 19:15:46 PM »
Yep.

Offline kevin3

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capital gains tax
« Reply #8 on: August 28, 2009, 19:45:03 PM »
Is there a sliding scale (percentage of tax)over the four or five years from purchase date?

Offline Scunner

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capital gains tax
« Reply #9 on: August 28, 2009, 20:03:38 PM »
Yes, keep it for 5 years and pay nothing. 4 years if you bought it before 2005ish, I can't remember and I'm going out :D




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