I don't want to sound like a prize prat, but can anyone help me here?

[carla]

If I bought a house 8 years ago, and it cost 150k, and is now worth about 400k, and I wanted to flogg it, would I have to live there for a year to avoid any extra taxes/whatevers?

Think it has to be your main place of residence to avoid CGT but I'm not 100% sure.

If it is your primary residence, you wouldn't have to pay any taxes. If it is not your primary residence, then you would be liable for capital gains tax on the increase in value. If it is not your primary residence, when did you last live there and for how long?

Freckle, I've never lived there.

Then move in quick!

Seriously, I think Capital Gains can be accumulated, so if you've not been liable over the past 5 (?) years, you can use up that allowance also. Also, all of your costs relating to the house would be deducted from the profit figure - I think. You'd still be left with a hell of a bill though.

I'm sure that there's someone here who can be of more specific help.

Nice problem though

fj, does it have to be for a year?

Would you have a problem living there for a year?