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Where Taxpayers and Advisers Meet

CGT on property rented from the start and never main home

Doctor
Posts:12
Joined:Wed Aug 06, 2008 3:03 pm

Postby Doctor » Thu Jun 12, 2003 2:23 pm

I purchased a flat two years ago and has been renting it since. The value over these two years has gone up by £20,000 or so.
My questions are:
(1) I am eligible for the "36 months rule" exemption that I've read about in the other questions on this discussion board?
(2) If its only applicable for properties that have been owner-occupied at some point, does it mean that if tomorrow I decide to move into that property, that exemption would then apply to me.
Cheers
Peter Mann

demetris
Posts:95
Joined:Wed Aug 06, 2008 2:18 pm

Postby demetris » Fri Jun 13, 2003 12:20 am

I am afraid I aam the bearer of bad news as to qualify for the 3 years exemption the property must have been your PPR at same satge.

You can make it qualify though by moving in for at least 3 months.

Demetris Savva BA FCCA
http://www.tax-accounting-london.info
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