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Article: Turning over a new relief. (Best Advice).

Article from:
Money Marketing
Article date:
March 13, 2003
Author:
Copyright

I have recently sold a second property in Central London for a substantial profit. I am looking for tax-saving ideas and also longer-term investments that are fairly speculative to take advantage of weak markets. If I buy another property, will I get rollover relief on the funds? Also, can I make a single-premium pension payment as I am behind on my pension provision?

First, let me deal with the belief that investment properties qualify for rollover relief -- they don't. The Inland Revenue views private property transactions for profit, assuming they do not involve a main residence, as an "adventure in the nature of trade". As such, they do not allow you to defer ...

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