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CGT question
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macmomo
Posts: 46 Forumite
hopefully a quickie.
due to postings away from our family home in lincs we have lived in married quarters for 5 yrs; our house has been rented out for that whole period. We are now selling and to our huge surprise it looks like we will make some profit on the house.
are we liable for CGT or are we treated as though we lived in that house all along because we were essentially forced to live elsewhere? it is our only property and we are liable for any CGT on anything else.
thanks very much for any help.
due to postings away from our family home in lincs we have lived in married quarters for 5 yrs; our house has been rented out for that whole period. We are now selling and to our huge surprise it looks like we will make some profit on the house.
are we liable for CGT or are we treated as though we lived in that house all along because we were essentially forced to live elsewhere? it is our only property and we are liable for any CGT on anything else.
thanks very much for any help.
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Comments
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You might want to post on the housing board.
I haven't got a clue, but seeing as the house was rented out, I would probably say that it's hard to claim that it was still the family home.0 -
No you won't.I am a Financial Adviser specialising in Mortgages, Protection, Health and Medical Insurance. I also write wills. All information posted on this site is for discussion only, and should not be taken as advice.0
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You will however be entitled to Refund of Legal Expenses.0
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