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Where Taxpayers and Advisers Meet

CGT sell or not to sell house

kanrent
Posts: 59
Joined: Tue Dec 16, 2014 8:20 am

CGT sell or not to sell house

Postby kanrent » Wed Jan 20, 2016 6:19 am

Hi can anyone advise me
I an a non resident landlord (British citizen) i rented out my house which was my only home for the last 15 years after living in it for 17 years, i now have to pay CGT if i sell
I would still like to have a rental property in the uk, but havent a clue how CGT works
I was wondering if i should sell my existing property to reduce the CGT on that one and buy another buy to let later.
In short is there anything to be gained in selling the property i have now and buying another later or just keeping my existing property and continuing renting it out.
Thanks for any help

pawncob
Posts: 4466
Joined: Wed Aug 06, 2008 4:06 pm
Location: West Sussex

Re: CGT sell or not to sell house

Postby pawncob » Wed Jan 20, 2016 1:40 pm

The ratio of PPR to let period will change over time, to your disadvantage. You need to post accurate dates and figures if you want a reasoned response.
With a pinch of salt take what I say, but don't exceed your RDA


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