We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Capital Gains Tax

stoke_bishop
stoke_bishop Posts: 70 Forumite
in Mortgages & endowments
If I move away at some point in the future, living in a different country for a while and in the meantime renting out my property, how long do I have to live back in my UK property again before I am not liable to Capital Gains Tax.
I know that I have three (?) years grace anyway.

Thanks...

Comments

  • silvercar
    silvercar Posts: 50,667 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    You are exempt from CGT for the time it was your main home and the last 3 years of ownership. You also have a CGT allowance, £9,600 for 2008-09 and would be eligible for letting relief, so it is likely that there would be no CGT to pay if it was let for a bit longer.

    It wouldn't be necessary to move back in to your home if you didn't want to.

    The liability to CGT only occurs on sale, and it is calculated as a proportion of the gain made in value.
    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.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354K Banking & Borrowing
  • 254.3K Reduce Debt & Boost Income
  • 455.2K Spending & Discounts
  • 247K Work, Benefits & Business
  • 603.6K Mortgages, Homes & Bills
  • 178.3K Life & Family
  • 261.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture