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Where Taxpayers and Advisers Meet

CGT exemption on second home.

sdexter@lincoln.ac.u
Posts:1
Joined:Wed Aug 06, 2008 3:03 pm

Postby sdexter@lincoln.ac.u » Thu Apr 10, 2003 1:05 am

I bought a house in Gainsborough in November 2002 which I moved into and have since been "doing up" while my new house was being built. My new house is now ready (April 2003) and I intend to move in in the near future.

I intend to rent out the original house and sell sometime in the next five years. How long can I keep it without being eligible for CGT?

Thanks in anticipation

demetris
Posts:95
Joined:Wed Aug 06, 2008 2:18 pm

Postby demetris » Thu Apr 10, 2003 11:43 am

The last three years of ownership are always exempt from CGT.

Demetris Savva BA FCCA
http://www.tax-accounting-london.info


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