CGT. BTL. Advice on gains made on house sale potential. Please!!

[Blondebomb77]

Any advice on this would help please.
keep it very simple.

Bought main residence in 2007.
cost £250000
lived there for 2 years.
rented out since 2009 til now.
valued at £475000.
thinking about selling up to buy with partner.
I know i have to pay CGT but what ways can i minimise the amount payable.
eg. Move in to house/ set up company/allowances/remortgage.

any help and advice is greatley received.
tyvm.
bb77

Get proper tax advice. This isn't an area you want to get wrong OP.

Apparently if you do move back in the Inland Revenue are very particular about the details and will charge you CGT for the period it was a BTL.

If you do find a way though, I'm all ears being in a similar situation myself

The CGT allowance has gone down and will go down further so maybe sell sooner.

Legal advice will be needed for selling anyway.

Accountants generally say that limited companies and residential properties are a bad combination.

There will be CGT for the period of non residence.

Try playing around with the calculator and advice here

www.gov.uk/tax-sell-property/work-out-your-gain

Then get proper advice

Put your figures in hmrc website an dit will tell how much CGG is allowed there used to be letting relief but got scrapped in 2020 so all years that was let will be taken into account for tax
I can't see any advantage in moving back in, the CGT tax allowance has halved and will halve again next year so selling sooner is better