CGT when changing main house to BTL

Boxerette

We have lived in our house for over 15 yrs due to rent it out end March to buy another.

I have read many stories re valuation for CGT purposes and also that CGT applies anytime between 6 & 36 months of selling from date of moving out.

Would appreciate some common up to date views guys.

Thanks

00ec25

read the HMRC guide, this Q comes up on here every 2 - 3 days

http://www.hmrc.gov.uk/helpsheets/hs283.pdf

John_Pierpoint

Then try searching this part of the forum using the MSE search and perhaps via Google. You may well find a situation that exactly matches your own.
You are doing the right thing in understanding your liabilities and responsibilities in advance as there are many legal and taxation aspects to owning an investment property.
You will find postings where someone has come on here horrified that they are between a rock and a hard place because they accidentally fell into being a landlord. The story often has all sorts of twists and turns with a big bill at the end.
This is the reason why so many "property !!!!!!" stories end up with "Well we might live in it for a bit while deciding what to do".