Capital Gains Equals Inflation ?!?

nollyprott

When my dad passed away I inherited a nearby terraced house which he rented out to supplement his retirement income, however the previous tenant had moved out a month before his death, and it was in need of modernisation.

My local council charges half Council Tax on empty houses and it kicked in six months after probate so I was under pressure to complete the work and find a new tenant, fortunately I knew local tradesmen who wouldn’t rip me off. Anyway spent £15k doing the place up and improving it at the same time, could have could have fitted a new kitchen but it was relatively modern and still serviceable.

I advertised it in the local paper and had a family dead keen to move in ASAP, except they couldn’t get a place in the village primary school for their son due to class size limits, their older daughter…

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