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Where Taxpayers and Advisers Meet

CGT selling BTL

JOHN1958
Posts: 2
Joined: Sat May 04, 2019 12:54 pm

CGT selling BTL

Postby JOHN1958 » Sat May 04, 2019 1:05 pm

I've been receiving rental income from my flat for 10 years having lived in it only the first 2 (I bought it to live in it 12 years ago). During the 10 years I've been living as a tenant myself.

I now want to sell but i am worried that it will be uneconomical to sell in order to buy my own home once CGT is paid to HMRC.

I hear that CGT can be minimised if i live in the property as my principle home 18 months before selling it, is this true?

pawncob
Posts: 4352
Joined: Wed Aug 06, 2008 4:06 pm
Location: West Sussex

Re: CGT selling BTL

Postby pawncob » Mon May 06, 2019 9:53 pm

No. PPR relief is time apportioned over the total period of ownership. Your claim would be 24/138 of the gain (approx)
With a pinch of salt take what I say, but don't exceed your RDA


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