We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
capital gains tax - selling my house
saudiqueen
Posts: 1 Newbie
in Cutting tax
Hi
My partner and I have each owned our own home for ten years. He has lived in his house for this time but I have rented mine out for the last three years as I have been working abroad. We plan to get married next year and I wll be moving into his house and plan to sell mine once the property market starts to pick up. My house is worth 250k and has no mortgage and purchase price was 250k. Will I have to pay capital gains tax on the sale of this property?
Thank you for your help
Queenie
My partner and I have each owned our own home for ten years. He has lived in his house for this time but I have rented mine out for the last three years as I have been working abroad. We plan to get married next year and I wll be moving into his house and plan to sell mine once the property market starts to pick up. My house is worth 250k and has no mortgage and purchase price was 250k. Will I have to pay capital gains tax on the sale of this property?
Thank you for your help
Queenie
0
Comments
-
If you make no ''gain'' then there is no tax due.
You need to get advice whether you are liable for any tax due to the receipt of rent.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards