Tax Question

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R
RW_918
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My accountant has stated that I don't pay TAX on equity release from my BTL's , considering the senario below , is this definitely the case ?

Example ;

I have a BTL bought 3 yrs ago and put down a deposit of 20k on purchase 100 K , 80 K mortgage

Property now worth 150 K , remortgage up to 130K - taking 50 K out of the property - This cash is tax free !?!

Is this Right ?

Thanks

11/10/2007 00:00

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