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Capital Gains Tax
going2die_rich
Posts: 1,378 Forumite
Are you subject to pay Capital Gains tax if you move out of a house you own to live in rented accomodation while the house sells? (if you have also registered with a new council saying you live else where. The rent accomodation is a hundred or so miles away from the property, therefore needed to notify the council of the change in order to get access to local NHS hospitals)
Thanks for any help,
Thanks for any help,
0
Comments
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CGT is not payable on your principle private residence.0
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I think you should still be able to nominate your property as your main residence even if you're renting elsewhere.
I don't think the fact that you've notified council of new address will make any difference.
As an aside, I am not aware that you need to notify council of a change of address in order to get access to NHS services?
Peter0 -
You get exemption from CGT for the time it was your PPR and the last three years of ownership. So provided you sell within 3 years of moving away you will have no CGT to pay.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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