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Old 05.04.2007, 14:20
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terryhall terryhall is offline
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Re: Can anyone help with a UK tax question?

^ You only put the rent up by about £10-£15 per year, depending on the remortgage.

The Govt *do* tax you on cash you take out of the house as equity, which does stink because yes, it is a loan - I bought at the right time, so my house pretty much doubled in 2 years - my intent was to remortagage and draw about £35,000 out of the equity, however I was told by a financial advisor this would hit me for about 40% tax (!) so I never bothered with it in the end.
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