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How long do you have to live in a house for it to become your

2 replies

WinkyWinkola · 29/11/2011 20:02

sole and main residence?

We are moving into a new build. We built it ourselves. We will sell our old house after we have moved into new build.

Then I would like to move again to the countryside. It's my dream. But dh is worried about the hit we will take from capital gains tax and that we wouldn't be able to afford our country house as a result. None of the homes we are talking about are big. All under £350k.

Any advice please?

OP posts:
londonlottie · 29/11/2011 21:26

I think you'd be absolutely fine because at each stage, the house you're living in is your primary residence. Have a look here for more information. We've just sought advice from our accountant, and asked them to put in writing that they are confident we will be exempt, and I think that's worth doing if you're in any way worried about it - it's not a mistake any of us would want to make.

Primafacie · 30/11/2011 09:09

Well, if you are an MP, no time at all apparently :o!

Sorry, not helpful but I couldn't resist.

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