Can anyone help?
DH and I bought our (only) home in 2005.
We moved abroad in 2010 for DH's work. Since then, the house has been let out.
We are hoping to move back this year. We will possibly move back into the house (if feasible for commuting) and then look to sell and buy somewhere bigger.
The house is likely to be worth about 45K more than we paid for it.
On the HM revenue website, it says that you don't count any time you spent abroad for work as "Living away from your home". DH was working, so presumably he doesn't count as living away. I was a SAHM the whole time so does that mean I can only count 3 years of "Living away from home for any reason"
So I would be liable to CTG for 2 of the years?
Then the letting part, I'm even more confused about this bit.
We lived in the house for 5 years, and then let it for 5 years. But we're allowed the last 18 months free. But if DH doesn't count as living away, does he count as living in the house for 10 years plus letting it for 5 years? Or letting it for 3.5 years since you get the last 18 months free?
And do I count as living in the house for 8 years because up to 3 years doesn't count as living away?
I know we get Primary home relief, or whatever it is called, because we used to live there. And I know that there is lettings relief too, so we are unlikely to be liable for much/any tax because our overall gain is not that great in the scheme of things.
But could someone give me a bit of rough guidance on actually how to work it out that would be great, as my mind is boggling.
In particular we would like to know whether it would be better to move back into the house for 6 months to a year, or whether that won't make much difference since the gain is small and we should just try to sell straight away.
Thank you so much anyone who reads this 