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From: <bob@sarahharvey.com>
To: "'Alistair Walker'" <alistairwalkerfca@gmail.com>
References: <E7139769-6531-4F0F-ACB8-AA764E9AB800@sarahharvey.com> <CA+Etm53w03OTqV3A59b7JMbmNosYFiX6zFaNGDaMwj4bZzr8Mw@mail.gmail.com>
In-Reply-To: <CA+Etm53w03OTqV3A59b7JMbmNosYFiX6zFaNGDaMwj4bZzr8Mw@mail.gmail.com>
Subject: RE: Building
Date: Mon, 7 Dec 2020 14:10:34 +0100
Message-ID: <920f01dadb78$265e3e80$731abb80$@sarahharvey.com>
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I have read that if we bought another property out of the Sarah Harvey
holdings (ie buy to rent) proceeds we would not have to pay capital gains.
Is this true?
From: Alistair Walker <alistairwalkerfca@gmail.com>
Sent: 07 December 2020 12:46
To: Bob Home <bob@sarahharvey.com>
Subject: Re: Building
Hi Bob
The cost in the accounts of holdings is £242068.If the £350k is received in
full (after selling costs) the gain in the company is £107932.
You can then take your loan back with no tax implication on you. the company
will pay approx £20507 on the gain.
Kind regards
Alistair
On Mon, 7 Dec 2020 at 12:33, Bob Home <bob@sarahharvey.com
<mailto:bob@sarahharvey.com> > wrote:
Hi Alistair,
We have had an offer of £350k for the building we paid £230k I think. Sue
and I gave a loan of £70k when we bought it. What would that mean in terms
of capital gains. If we bought another property out of the profit. Would we
still pay capital gains?
Sent from my iPhone
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vlink=3Dpurple style=3D'word-wrap:break-word'><div =
class=3DWordSection1><p class=3DMsoNormal><span =
style=3D'mso-fareast-language:EN-US'>I have read that if we bought =
another property out of the Sarah Harvey holdings (ie buy to rent) =
=C2=A0proceeds we would not have to pay capital gains. Is this =
true?<o:p></o:p></span></p><p class=3DMsoNormal><span =
style=3D'mso-fareast-language:EN-US'><o:p> </o:p></span></p><div =
style=3D'border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0cm =
0cm 0cm'><p class=3DMsoNormal><b><span =
lang=3DEN-US>From:</span></b><span lang=3DEN-US> Alistair Walker =
<alistairwalkerfca@gmail.com> <br><b>Sent:</b> 07 December 2020 =
12:46<br><b>To:</b> Bob Home =
<bob@sarahharvey.com><br><b>Subject:</b> Re: =
Building<o:p></o:p></span></p></div><p =
class=3DMsoNormal><o:p> </o:p></p><div><p class=3DMsoNormal>Hi =
Bob <o:p></o:p></p><div><p class=3DMsoNormal>The cost in the =
accounts of holdings is =C2=A3242068.If the =C2=A3350k is received in =
full (after selling costs) the gain in the company is =
=C2=A3107932.<o:p></o:p></p></div><div><p class=3DMsoNormal>You can then =
take your loan back with no tax implication on you. the =
company will pay approx =C2=A320507 on the =
gain.<o:p></o:p></p></div><div><p =
class=3DMsoNormal><o:p> </o:p></p></div><div><p =
class=3DMsoNormal>Kind regards<o:p></o:p></p></div><div><p =
class=3DMsoNormal><o:p> </o:p></p></div><div><p =
class=3DMsoNormal>Alistair<o:p></o:p></p></div><div><p =
class=3DMsoNormal><o:p> </o:p></p></div></div><p =
class=3DMsoNormal><o:p> </o:p></p><div><div><p class=3DMsoNormal>On =
Mon, 7 Dec 2020 at 12:33, Bob Home <<a =
href=3D"mailto:bob@sarahharvey.com">bob@sarahharvey.com</a>> =
wrote:<o:p></o:p></p></div><blockquote =
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6.0pt;margin-left:4.8pt;margin-right:0cm'><p class=3DMsoNormal =
style=3D'margin-bottom:12.0pt'>Hi Alistair,<br>We have had an offer of =
=C2=A3350k for the building we paid =C2=A3230k I think. Sue and I gave a =
loan of =C2=A370k when we bought it. What would that mean in terms of =
capital gains. If we bought another property out of the profit. Would we =
still pay capital gains?<br><br>Sent from my =
iPhone<o:p></o:p></p></blockquote></div></div></body></html>
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