Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • HowAmIDoing
    • By HowAmIDoing 5th Mar 18, 12:42 PM
    • 1Posts
    • 0Thanks
    HowAmIDoing
    CGT tax question
    • #1
    • 5th Mar 18, 12:42 PM
    CGT tax question 5th Mar 18 at 12:42 PM
    Hi


    I have searched the forum (and google!) but can't find an answer, so hoping someone here can clarify


    I own one property but have not lived there for a few years . Am I liable for Capital Gains Tax when it gets sold even if I have not bought another property (I rent), or is it just once I have bought somewhere else that I will become liable?


    Thanks
Page 1
    • silvercar
    • By silvercar 5th Mar 18, 1:19 PM
    • 37,310 Posts
    • 157,180 Thanks
    silvercar
    • #2
    • 5th Mar 18, 1:19 PM
    • #2
    • 5th Mar 18, 1:19 PM
    From the time it isn't your primary residence you could be liable to CGT. There are exemptions eg for the last 18 months of ownership, if it has been your home. A CGT allowance, if not used elsewhere. Letting relief if you let your property in your absence.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

742Posts Today

6,792Users online

Martin's Twitter
  • This tweet made me reread my 'How to Vote in the EU referendum' guide - quite interesting to realise how little has? https://t.co/lFQaSSqUGj

  • Ah these care free days of watching #ENG score 5 goals in the first half of a World Cup match. It reminds me of... Never.

  • Then it should be. It's not some accident. It's deliberate grappling https://t.co/UxVTuUSNio

  • Follow Martin