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Capital Gains Tax
fmsam
Posts: 1 Newbie
in Cutting tax
I own a property which I have rented out for a few years It is my only property but I have been renting a room to live in for a couple of years whilst renting my house out. I lived in my house for a few months after originally buying it but not since.
I now wish to sell my house and buy another for my sole occupation. My question is, would I have to pay CGT on the sale or is there a minimum period which I would need to live in my house to avoid paying it.
I now wish to sell my house and buy another for my sole occupation. My question is, would I have to pay CGT on the sale or is there a minimum period which I would need to live in my house to avoid paying it.
0
Comments
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I think you should be exempt.
This should cheer you up until some one else comes along and points out why I am wrong.
Your "first home" is exempt................................I have put my clock back....... Kcolc ym0
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