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best way to deal with second peoperty

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  • Keep_pedalling
    Keep_pedalling Posts: 22,746 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 19 December 2025 at 4:45PM
    [quote=[Deleted User];71549196]Sorry I didn't word that very well obviously we will need to sell when we move into other property once it's been renovated I was asking more along the lines of any implications in selling it any taxs due or anything as it will ineffectivevly make it a second home at some point as I'm sure there would be cgt or something involved when selling a second property ??[/QUOTE]

    You current house is you main residence, there will be no tax of any kind on it if you put it up for sale once you have moved, unless you are going to hold on to it for a number of years before selling it.
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    edited 19 December 2025 at 4:45PM
    [quote=[Deleted User];71549196]Sorry I didn't word that very well obviously we will need to sell when we move into other property once it's been renovated I was asking more along the lines of any implications in selling it any taxs due or anything as it will ineffectivevly make it a second home at some point as I'm sure there would be cgt or something involved when selling a second property ??[/QUOTE]

    makes more sense after the edit...

    CGT is well documented for a simple periods of main residence and not main residence sale.

    do it within 18months and nothing(used to be 36months so old pages may still have that) and fully exempt, any longer the assessment starts to get more complicated.
  • [Deleted User]
    [Deleted User] Posts: 0 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    edited 29 April 2017 at 9:48AM
    Sorted thanks
  • [Deleted User]
    [Deleted User] Posts: 0 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    edited 29 April 2017 at 9:48AM
    Sorted thanks
  • Yorkshireman99
    Yorkshireman99 Posts: 5,470 Forumite
    edited 19 December 2025 at 4:45PM
    [quote=[Deleted User];71553790]The honourable gentleman is an honorable woman actually as in my forum name tightWADESS ha ha ha[/QUOTE]
    Apologies.
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    edited 19 December 2025 at 4:45PM
    [quote=[Deleted User];71553790]The honourable gentleman is an honorable woman actually as in my forum name tightWADESS ha ha ha[/QUOTE]

    Now you point that out I realise I have been seeing something completely different.
  • Keep_pedalling
    Keep_pedalling Posts: 22,746 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 19 December 2025 at 4:45PM
    [quote=[Deleted User];71553805]Keep peddling and getmore4less your help is most appreciated :) I owe you both a drink[/QUOTE]

    Mine is a 16 year old Lagavulin:beer:
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    edited 19 December 2025 at 4:45PM
    [quote=[Deleted User];71553805]Keep peddling and getmore4less your help is most appreciated :) I owe you both a drink[/QUOTE]

    THanks, once you are settled in and your house sold take your mum out and raise a glass to your your dad with mine.
  • [Deleted User]
    [Deleted User] Posts: 0 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    edited 29 April 2017 at 9:49AM
    Sorted thanks
  • [Deleted User]
    [Deleted User] Posts: 0 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    edited 29 April 2017 at 9:49AM
    Sorted thanks
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