CGT: Bought another property before selling old one because of job relocation

[djhdurham@aol.com]

We are relocating from England to Scotland resulting from a job move. We are in the situation of being able to purchase a property in Scotland before selling our current residence in England. On selling the current property in England after purchasing in Scotland, what CGT are we liable for?

[demetris]

The last three years of ownership are always exempt for whatever reason if you are absent form your private residence. So, if you sell the first house within three years of moving to the second you shouldn't have to pay any CGT.

I hope this helps.
Demetris Savva BA FCCA
http://www.tax-accounting-london.info
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