Tax Question
Other

RW_918
RW_918
0 Thanks
6 Posts
14 years ago
0

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 ?

Thanks

Please Login

You must be logged in to participate in our forums, to continue please login below.

Not a member? From only £75 you can join in the discussion and get access to member's only resources and services join now.