Stamp Duty & CGT on house overlap

n3phi1im

So we will be buying a new house soon but the old house won't be sold for several months as it will need doing up before it is ready to sell.

I know there will be the extra stamp duty which can be reclaimed within 36 months as long as
a) the house that is sold was our main residence and
b) the new house becomes our main residence when the sale is completed

But how does this work with CGT? If the old house is no longer our main residence when it is sold, will it incur CGT?

booksurr

n3phi1im wrote: »

But how does this work with CGT? If the old house is no longer our main residence when it is sold, will it incur CGT?

the final 18 months of your ownership are always exempt irrespective of what you do with the property in that time: let it out, leave it empty, or as in your case: refurbish it

so you have 18 months in which to sell it before you are liable for CGT and even after 18 months the likelihood of actually having any CGT to pay is small, as you would then be claiming allowances which would probably eliminate the gain for at least another 1 - 2 years anyway