Selling holiday let , to buy another or maybe 2!
Posted: Sun May 09, 2021 11:14 am
Hi, we are looking to sell our cottage in Whitby , we are in the process of applying for planning permission for 2/3 houses on the garden which I doubt will be granted, but I’ve got to try !
My question is, say we sell the cottage and we have 150k equity , and use it to purchase another house, / apartment etc, within a year to run as a holiday let, will I get taxed on the equity?
We have had the cottage since 2003 but only ran it as a holiday let for around the last 10 years.
My question is, say we sell the cottage and we have 150k equity , and use it to purchase another house, / apartment etc, within a year to run as a holiday let, will I get taxed on the equity?
We have had the cottage since 2003 but only ran it as a holiday let for around the last 10 years.