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Capit Gains Tax Question
newbieni
Posts: 257 Forumite
in Cutting tax
Hi All,
I have owned my house since 2014 and I have lived in it since then with the exception of one year just prior to COVID when I let it out. The let was an absolute disaster with the house severely damaged and little to no rental payments made.
I am now hoping to move house and sell this property, I assume I will be liable to pay some tax for the year I did not live in the property. Is there a way that I can easily calculate this?
Thanks in advance.
I have owned my house since 2014 and I have lived in it since then with the exception of one year just prior to COVID when I let it out. The let was an absolute disaster with the house severely damaged and little to no rental payments made.
I am now hoping to move house and sell this property, I assume I will be liable to pay some tax for the year I did not live in the property. Is there a way that I can easily calculate this?
Thanks in advance.
0
Comments
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https://www.gov.uk/government/publications/private-residence-relief-hs283-self-assessment-helpsheet explains the rules, and there's a wizard at https://www.gov.uk/tax-sell-property/work-out-your-gain0
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