My daughter has just informed me (after watching a TV programme), that I could be liable for capital gains tax if I sell my house, which I want to do asap.
I moved into my council accommodation in November 1999, during my divorce. I bought the property (on the right to buy scheme) in July 2002 by this time my daughter and partner were living there too. In August 2003 I moved in with my partner, who owns her home. My daughter remained in the property, rent free, up until July 2004! Since her vacation the property has been empty but I now continue to pay the associated bills, I had 6 months exemption from council tax and now pay reduced council tax. I canÂ’t sell the property until July 2005 (council 3 year time bar). The property has also remained empty from July 2004 to date. My partner and I are not yet married.
We had eventually hoped to sell both properties and buy a new home together with room for our family. The house in question is a two bed, the one my partner owns and we live in, is a 3 bed. There are 6 of us.
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