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Capital gains tax

2 replies

HousebuyingQueries · 11/01/2022 13:09

Hi all, am hoping for some help on this as googling didn't result in much!

Am looking to buy a second property without selling my current home - the second jouse will be my main home. The intention is to then put my current home on the market afterwards- i won't be letting out my current home. In this case can I claim a refund on capital gains tax paid on the sale of my current home?

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lalaloopyhead · 11/01/2022 13:15

You receive Private Residence Relief on the period that you lived in the house, plus the final 9 months - so depending on how long it takes to sell it is unlikely that there will be any CGT payable.

I'm not sure what you googled but HMRC 'Tax when you sell your home' details PRR and how CGT is calculated. You might be best to seek some professional advice if you are not 100% sure on details.

HousebuyingQueries · 11/01/2022 13:36

Thank you @lalaloopyhead!

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