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Will I pay Capital Gains Tax? Confused
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Windsorcastle
Posts: 547 Forumite
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assuming it was your only home while you lived there, then it's exempt both while you lived there and for the last 3 years of ownership. so you have 3 years from when you moved out to sell with 100% CGT exemption.0
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Windsorcastle wrote: »Great thanks so much! It was my only home when I lived there. So the rental aspect is irrelevant for CGT purposes? (I know I'm liable for the income tax on the rent itself).
in your particular circumstances i.e. 6.5 years PPR plus last three years exemption, then you will have no cgt to pay assuming you sell in the next few years
as in addition to the 3 years you also get letting relief and have a 10,600 cgt allowance
so zero tax for a few years yet.0
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