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CGT on two PPR properties
theGrinch
Posts: 3,133 Forumite
in Cutting tax
I currently have my PPR but I have seen a house that will be my "forever" house. I am thinking about buying it and letting it out until I sell my current PPR.
The question is if I move within the next 3 years to the new house, will there be nil CGT to pay on both house?
The question is if I move within the next 3 years to the new house, will there be nil CGT to pay on both house?
"enough is a feast"...old Buddist proverb
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Comments
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If you continue to live where you are now, then when you sell, there will be no CGT as it is PPR.
If you then move into other house, which has been let in the meantime, that will then become your PPR and only when you sell that house will the question of CGT arise, based upon how long it was let for.Official DFW Nerd Club - Member no: 203.0 -
any true "forever" house escapes CGT, as there is no CGT payable on death!I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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