Hi
DH and I have moved abroad and are thinking about selling our house in the UK as we are not sure whether we will be coming back. The problem is that we did not live in the property all the time so we are not sure whether we will need to pay any capital gains tax when we sell as we are likely to make a profit of around 130k.
The property was bought in June 2004 and remained our main residence until August 2008.
We then let the property for a year between September 2008 and September 2009 after which we moved back in until end of July 2011.
The property was then empty from August 2011 until March 2012 after which we let it for two years from April 2012 to April 2014. It has remained empty since the last tenants left.
The questions we have are:
Will we have to pay any CGT if we manage to sell before April 2015 and decide not to come back?
How much will we have to pay if we do not come back but only manage to sell after April 2015?
And finally, how much will we need to pay if we sell but decide to come back within the next 5 years?
Would really appreciate it if someone with knowledge in this area could help us shed some light on this.
TIA
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CGT question
6 replies
poppyshouse · 22/11/2014 18:17
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