Consumer BTL & CGT on sale

pjapk

I'm aware that if you BTL, then sell the property 5yrs later, any increase in property sale value is subject to CGT, but what's the situation with a Consumer BTL?

E.g. where you move out of a property you've lived in for 20yrs (into a newly purchased property) & rent the old property for a while (lets say it's mortgage-free to keep things simple), then 5yrs later sell it, are there any Let-related CGT implications or how does the situation otherwise differ from a traditional BTL?

tacpot12

You are not liable for capital gains tax for the time that the property was your main residence, and (currently) you are also not liable for CGT for the last 18 months of ownership. This period of 18 months is due to reduce to 9 months in April 2020, so if you are considering selling up, then doing so before then would save a little bit of tax.

These link confirms the above:
https://www.gov.uk/government/publications/private-residence-relief-hs283-self-assessment-helpsheet/hs283-private-residence-relief-2019
https://www.gov.uk/government/publications/private-residence-relief-budget-2018-brief

Once you know how much Private Residence Relief you are entitled to, you can use the calculator here to calculate the CGT due:
https://www.gov.uk/tax-sell-home/work-out-your-gain

pjapk

Thanks for those links, will have a good read of them. I've also dropped my accountant a query who should be able to give me the finer details in my circumstances.