This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

capital gains tax

Dennis D
Posts:2
Joined:Sun Apr 12, 2020 12:43 pm
capital gains tax

Postby Dennis D » Sun Apr 12, 2020 1:00 pm

We sold a large house in February 2019 while living in a small house close to our terminally ill son for 6 years. After selling large house we looked to buy another house back where we lived in the large house which we found in and purchased in December 2019. While in small house we rented out part of large house but did not declared it as our main residency. Do we have to pay CGT

pawncob
Posts:5090
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: capital gains tax

Postby pawncob » Tue Apr 14, 2020 11:48 am

You really need to put some dates in and identify each property to make sense of this.
The answer is yes, though there may be relief for PPR etc.
With a pinch of salt take what I say, but don't exceed your RDA

Dennis D
Posts:2
Joined:Sun Apr 12, 2020 12:43 pm

Re: capital gains tax

Postby Dennis D » Sat Apr 18, 2020 10:04 am

we have been living enlarge house from feb 1986 to 2012 when me moved to be close to our son during this time we part rented out our large house. we moved back into large house prior to selling it earlier this year when we found a house close to our original large house after looking for house since our sons death.


Return to “Capital Gains Tax, CGT”