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moving back into rented property
llancayo
Posts: 14 Forumite
Could you help my friend next door he as a second property that is son as been living in he is paying no rent and moving out my friend next door thinking of selling his home and moving in second property that he owns as his son is moving out to is new home with girlfriend could he do this is there any cgt to pay
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Comments
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CGT only applies on the sale of a property. If you have lived in a property as your main home, you are exempt from CGT for the time it was your home and the last 3 years of ownership. You also have a CGT allowance (£9,200). CGT would be payable on the gain in value less costs.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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