Offsetting Capital Gains Liability

LoadingFavourite

This topic contains 2 replies, has 2 voices, and was last updated by Profile photo of Bergerac Bergerac 5 months ago.

  • Author
    Posts
  • #191383
    Profile photo of Bergerac
    Bergerac
    Participant

    Can anyone advise if the capital (not the interest) already repaid on a mortgage can be offset against the 3% retention withheld from the selling price to cover the potential capital gains liability on a non-resident owned property?

  • #191413

    You cannot offset the capital already repaid against the 3% retention.

    The 3% of the sale price will always be retained indepently the offset of capital, the charges of the constitution of a mortgage etc. etc.

  • #191599
    Profile photo of Bergerac
    Bergerac
    Participant

    Many thanks for the information

You must be logged in to reply to this topic.