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Lobster
 
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Default Last nights Million Pound Property Experiment

"Chris Oates" none wrote in message ...
"geoff" wrote in message
...

I still wan't to know why they are not paying
capital gains tax on 'non main residences'


Well, it was made clear at the outset that any profit they make after
paying back the Beeb, with interest, would be going to Children In
Need. So it's not as if it's either their own cash they are playing
with, or their own pockets they are lining - they are only TV
presenters. I don't know what the CGT rules are for this rather
unusual scenario; maybe the charity element will provide an exemption?

Have they actually made enough profit yet to worry about CGT anyway?
;-)

I think the issue of avoiding stamp duty is a biggie; I'm sure the
dear old IR won't baulk at chasing that up. As someone else has
already said, they shot themselves in the foot bigtime by admitting
they were massaging the apparent selling price to get below 500K.
Quite how or why the producers let that go out on air is a mystery.
Bit of an 'oops' methinks.

David