What taxs will i pay

blops2013

Im in teh process of selling my own home for x amount to pay of my debts and ill be left with 135k cash and im thinking of investing it into some property but want to know what sort of taxes will i have to pay on the purchase of said houses. I have seen 1 property going for 30k that needs some work done to it. Im gong to put an offer in of 20k and i will get it up to livable condition for 10k with me doing most the work.

I have also seen a few other places and have talked to the EA and hes informed me that the vendors would accept 45k for each property and if i pull all 3 of them for the prices i want them for then i could be have 3 properties come teh summer time for renting out.

Im wanting to know that if i do pull this off then what sort of taxes will i have to pay from the purchase of said properties and even when renting out. I know that i wll be liable for CGT when i eventually sell on but at what rate is this.

Ive been told that when it comes to time to sell, i can move into the one im thnking of selling for 12 months and it will be tax free when i sell on as its my man residence, would this be correct.

Mr. Incognito

Dear Lord.

Another free luncher.

Read charter.

7 Day auto ban

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