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Where Taxpayers and Advisers Meet

Capital Gains Tax and tied accomodation

Hosta
Posts: 1
Joined: Mon Sep 21, 2015 8:46 pm

Capital Gains Tax and tied accomodation

Postby Hosta » Mon Sep 21, 2015 8:55 pm

For the past 20 years I have been living in tied accommodation for my job and bought a house which I rent out rather than leave empty. I have paid tax on the rental income. I would like to sell this house and buy another to live in when I retire in 8 years time. Am I liable to capital gains?

Thanks

pawncob
Posts: 4557
Joined: Wed Aug 06, 2008 4:06 pm
Location: West Sussex

Re: Capital Gains Tax and tied accomodation

Postby pawncob » Tue Sep 22, 2015 10:22 am

See how many criteria you meet, on HMRCs appalling quiz.
https://www.gov.uk/tax-sell-home/absence-from-home
With a pinch of salt take what I say, but don't exceed your RDA

King_Maker
Posts: 6538
Joined: Wed Aug 06, 2008 3:22 pm

Re: Capital Gains Tax and tied accomodation

Postby King_Maker » Tue Sep 22, 2015 12:48 pm

Very possibly - if it is/was always your intention to use it as your main residence in due course.


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