Capital gains tax question

[Jones452]

Hi, hoping for some advice

We own our house mortgage free and want to move. We have found a house we want to offer on and are proceedable as cash buyers. We have not yet listed our house for sale but will sell it.

If there is overlap between owning both houses, are we liable for capital gains tax when we sell this one?

In case it's relevant, we also incidentally (it isn't a rental nor our residence) own a third house which we won't be selling.

Thanks

Moving from one main residence to another will mean you will pay 3% more stamp duty on your purchase but you can claim that back when the original property is sold. We did this and also have other properties, we didn’t pay any capital gains tax.

The short answer is more than likely no, but depends how long the gap is.

Great, thanks. That's hopeful then!

No but you will have to pay the extra 3% stamp duty and as you already own a rental you won’t be able to claim that back.

Yes, I thought that was the case. Sadly it's not a even a rental, just the bane of our lives when it comes to things like this but we can't get rid of it!