cgt on property
Posted: Thu May 17, 2018 8:42 am
Hi,
We bought a property in 2002 as residential we rented it out in 2012 till 2016 changed it to buy to let on mortgage and have moved back in 2016 we told the mortgage people we were back living in it and this was okay we still have a buy to let mortgage on it that expires in September we now want to sell it but am worried about paying cgt on the profit do we change mortgage over to residential to sell it or will we be exempt from cgt as it is our residential home we didn t change it before because of fees.Any advise would be grateful.
Kind Regardsal23
We bought a property in 2002 as residential we rented it out in 2012 till 2016 changed it to buy to let on mortgage and have moved back in 2016 we told the mortgage people we were back living in it and this was okay we still have a buy to let mortgage on it that expires in September we now want to sell it but am worried about paying cgt on the profit do we change mortgage over to residential to sell it or will we be exempt from cgt as it is our residential home we didn t change it before because of fees.Any advise would be grateful.
Kind Regardsal23