Do i pay CGT on 2nd home?

brantwood150

Twopints wrote:

Yup. Normally your house is not subject to CGT as long as it is your Principal Private Residence.

If you have a property (or other asset) that is liable for CGT then taper relief applies. It can reduce the gain liable to tax by up to 40% after 10 years (commencing 1998 or year of acquisition, whichever is later)

Ahh, I forgot about the non-business asset taper relief. That's what you get for spending your life doing corporate tax rather than personal tax.

Smacked hands and legs for me