Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • AOB84
    • By AOB84 14th Jun 17, 9:13 PM
    • 1Posts
    • 0Thanks
    AOB84
    Selling Our Flat & Tax
    • #1
    • 14th Jun 17, 9:13 PM
    Selling Our Flat & Tax 14th Jun 17 at 9:13 PM
    My husband & myself bought a flat to live in, after 5 years we decided to rent it & have gone from residential to buy to let, we are now considering to sell.

    Can you please advise how much capital gain tax we will have to pay? Are we exempt or reduced because we lived in it?

    First time sellers any advise greatly appreciated.

    Thanks, AOB
Page 1
    • G_M
    • By G_M 14th Jun 17, 9:16 PM
    • 39,699 Posts
    • 45,212 Thanks
    G_M
    • #2
    • 14th Jun 17, 9:16 PM
    • #2
    • 14th Jun 17, 9:16 PM
    * date bought?
    * purchase price?
    * date you moved in?
    * date you moved out/tenants moved in?
    * Date tenants moved out you moved back in?
    * any other similar relevant dates?
    * esteimated date of sale?
    * Sale price?

    Then see:
    https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg64200c

    So much for Capital Gains Tax.

    Now..... income tax on the rent received......?
    Last edited by G_M; 14-06-2017 at 9:32 PM.
    • 00ec25
    • By 00ec25 14th Jun 17, 11:30 PM
    • 4,105 Posts
    • 3,355 Thanks
    00ec25
    • #3
    • 14th Jun 17, 11:30 PM
    • #3
    • 14th Jun 17, 11:30 PM
    how fun that we have an almost identical question as this one.
    http://forums.moneysavingexpert.com/showthread.php?t=5662479

    lets see if this OP also fails to answer the questions and also disappears.....
    Last edited by 00ec25; 16-06-2017 at 12:48 AM.
    • G_M
    • By G_M 16th Jun 17, 3:56 PM
    • 39,699 Posts
    • 45,212 Thanks
    G_M
    • #4
    • 16th Jun 17, 3:56 PM
    • #4
    • 16th Jun 17, 3:56 PM
    how fun that we have an almost identical question as this one.
    http://forums.moneysavingexpert.com/showthread.php?t=5662479

    lets see if this OP also fails to answer the questions and also disappears.....
    Originally posted by 00ec25
    Joined on 14th.
    Posted on 14th.
    Last logged on on 14th.

    ....
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

353Posts Today

2,668Users online

Martin's Twitter
  • You're right, of course. How silly of me. After all, all my work is solely focused on my own personal circumstance? https://t.co/m6DHzFUjzg

  • RT @ARJMOR: @MartinSLewis It may well be kind of random, but the algorithm used has a bias to the unpopular seats.

  • It seems what Ryanair is saying is "don't pay and we leave you the seats we don't think people want and they're in the middle."

  • Follow Martin