CGT advice please

[diamond2]

Hi there,

Can you advise me regarding CGT please?

In 2015 I moved out of my home after 26years, and at that time, for BTL mortgage purposes, the house was valued at £340k. I then rented it out and It's now worth about £385k.

In the meantime I bought a flat which is now worth roughly £325k.

I'm now considering moving and selling both properties. Can you give me any advice as to what I may currently pay in CGT please? Also, I've heard that you may benefit from moving back in to the house for 6 months. Is this correct?

Thanking you in advance.

Mandy

[bd6759]

You pay CGT on the difference between the buying and the selling price, and less costs.

If a property is your home, that period is exempt. This is a time based apportionment. Roughly 26/31 based on question. You need to do it in months, but you are allowed to add a further 9 months.

Moving back in for a short period does not count.