Is equity release CGT liable?
Tax Planning and Financial

Colin in Leeds

1 Thanks

42 Posts

3 years ago

I remortgaged a property (47k outstanding) and managed to get some equity released in the process. The remortage was for £82500. I paid off the old mortgate and have got just over £35k left over in cash but a new loan out for 82.5k

How is this surplus cash classed by HMRC? Never dawned on me until just now that it might be considered income. I kind of thought I was just moving money around as my plan was to use this to pay off mortgage on another property.

Thanks for any insights.

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Is equity release CGT liable? Tax Planning and Financial

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Is equity release CGT liable?
Tax Planning and Financial