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Selling home - moving into sheltered accomodation
TheGardener
Posts: 3,303 Forumite
Is CGT due if an elderly person moves into rented sheltered accommodation and sells their home? The house being sold was their only home, is less than 5000sq metres, was never sublet, never bought to make a profit etc.
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Comments
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It sounds like you're saying they'd have lived in the home the whole time they owned it, and sold when they moved out. In which case, no, the main residence relief would apply.0
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Gosh I should hope not OP!
In the past I've sold my home to go travelling and once I sold to rent for a while. Would hate to think I owed CGT :eek:
Here are the rules
https://www.which.co.uk/money/tax/capital-gains-tax/capital-gains-tax-on-property-avuq96u1500f0 -
CGT is not due if she has always lived in the property...0
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