Hello,
I wonder if somebody can help. We have a house in London, we bought it and lived in it for 2 years then moved to Oxfordshire for my husband's job and we have been here for 3 years (although he left that job a year ago and working for himself now). We are now thinking of selling and buying here but have realised that CGT now are applicable even if we haven't bought a new home, but for having it rented out. I had a look at the GOV tax relief calculator and it says:
Have you lived away from your home?
Don’t include:
the first 12 months you owned your home if it was being built, renovated or you couldn’t sell your previous home
the last 18 months before selling your home (36 months if you’re disabled, in long-term residential care or you sold the property before 6 April 2014)
Also don’t include time you lived away from home for:
any reason for periods adding up to 3 years
work in the UK for up to 4 years
work outside the UK for any period
I'm unsure about the timings tough: by the time we sell we will just be over the 3 year period of (being away for any reason) there is a 4 year gap for work but he has now changed his work. Or could we add the 18 months needed to sell with the 3 years being away for any reason?
Can somebody help?
Thanks
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