18th November 2017 by Liz Densley
Capital gains tax can cast a shadow over selling your house, but there may be a silver lining to this particular cloud.
We’ve recently come across several situations where a GP originally bought a home to live in, moved away for work, rented it and subsequently sold it – often at a substantial profit. Will that profit be taxable?
The rules for reliefs in this situation are very complex (to the extent that we have a 300 page textbook just on the subject!)
"I have been working with NASGP as the main source of income since graduating. I can't recommend them more highly for newly-graduated GPs. They helped me with setting my terms and conditions and they even arranged a tutorial session about EMIS, as the system was new to me.
LocumDeck is a great help when it comes to organising sessions, pension forms and invoices for tax purposes.
NASGP was particularly supportive during the Covid-19 period. It recognised the effect it had on locum work, temporarily waived the already small fee on sessions and were keen on getting the members together in regular video meetings.
I'm a satisfied member of NASGP. "
Dr Nazar Ahmed
