Selling Rental Property

Emm_Eff

I am just about to sell a property I had been leasing out. Details are...

Lived in the property as my main residence for about 6 years. I then moved in with my partner at a different address and started leasing my own house. I leased it for 2 years and 6 months. I am now in the process of selling.

Do I have to pay any tax on the profit I make from the sale?

TIA

CLAPTON

a little unclear but you are exempt from cgt for the period you actually lived there (6 years) and you are exempt for that last 3 years of ownership
so that would seem to mean that you have no tax

maybe be a little more exact about the dates

Emm_Eff

CLAPTON wrote: »

a little unclear but you are exempt from cgt for the period you actually lived there (6 years) and you are exempt for that last 3 years of ownership
so that would seem to mean that you have no tax

maybe be a little more exact about the dates

Dates are roughly...

Bought house in July 2006. Registered as Landlord in August 2010 and claimed council tax exemption at same time. Started leasing the house in October 2010. Stopped leasing in February 2013, and placed on market for sale. Have had an offer and sale should be complete by end of April.

CLAPTON

period of ownership 81 months
so 61 months resident private residence PPR
plus exempt for last 36 months

so no tax to pay (and we haven't even used your cgt allowance of 10,600 or letting relief)

Emm_Eff

CLAPTON wrote: »

period of ownership 81 months
so 61 months resident private residence PPR
plus exempt for last 36 months

so no tax to pay (and we haven't even used your cgt allowance of 10,600 or letting relief)

Very reassuring thank you for the info.