Selling family home and Capital Gains Tax

mcphail

Hi everyone - hope you can clear this for me. My parents are selling their family home, due to ill health, and are moving in with family to help care for them. My Mum says she has read somewhere that if you sell your house and don't buy another one, then CGT is due. I cant find anything to confirm this, but thought I'd ask on here, as someone will know! They have stayed in their house for 25 years, and have no other properties. They stay in Scotland, if that makes any difference to tax issues! Thank you for any help.

middleclassbutpoor

You dont pay CGT on selling your primary residence.

Makes no difference being in scotland.

00ec25

your mother is wrong

tell her to read this instead of whatever it was she looked at, if she can't understand it, then tell not to have half baked ideas :
https://www.gov.uk/government/publications/private-residence-relief-hs283-self-assessment-helpsheet

mcphail

Thank you both. Just confirming what I thought! Unfortunately 00ec25, we have a lot of 'half baked ideas'. Hence the reason I said in my post they are moving due to ill health. Thank you anyway for the link.

McKneff

00ec25 wrote: »

your mother is wrong

tell her to read this instead of whatever it was she looked at, if she can't understand it, then tell not to have half baked ideas :
https://www.gov.uk/government/publications/private-residence-relief-hs283-self-assessment-helpsheet

Beggin' youre pardon but that was extremely rude to speak of the OP's elderly, ill parents in that way.

Shame on you for being so disrespectful