Tax Question

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6 Posts
16 years ago

My accountant has stated that I don't pay TAX on equity release from my BTL's , considering the senario below , is this definitely the case ?

Example ;

I have a BTL bought 3 yrs ago and put down a deposit of £ 20k on purchase £ 100 K , £ 80 K mortgage

Property now worth £ 150 K , remortgage up to £ 130K - taking £ 50 K out of the property - This cash is tax free !?!

Is this Right ?


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