House Move and CGT

MoneyDolt

OK, I'm not trying to make money from property or anything but for various job-related reasons I'm going to be buying a house before selling my old one (which I've lived in for 2 and a half years). I will continue to live in the old house for a few months after the new one is purchased then move to the new one and sell the old. I don't want to get hit for CGT as this isn't a profit making exercise, I just need to do a very long range move with a bit of overlap.

I had been told that as long as I sell the old place within 3 years of moving out I shouldn't be taxed, is that right ?

Thanks.

MD

silvercar

I had been told that as long as I sell the old place within 3 years of moving out I shouldn't be taxed, is that right ?

Correct, you get PPR relief for the time it was your home and the last 3 years of ownership.

MoneyDolt

Thanks for that.