Postby rks2018 » Mon Feb 04, 2019 4:53 pm
Thanks ,
Just to clarify , It was my main residence for first 18 months , I then bought another house to move into but couldn't sell the 1st one , my sister moved in temporarily in the house and has looked after it since 2001 , but was mainly living with parents looking after them . in 2015 we started letting out to 2 tenants , in 2017 sister moved in permanent and has now to lodgers . we registered for self assessment in 2015 .
My own residence has been in 2nd property since 2001.
The mortgage on 1st property finishes in 2020 and I'm now thinking of removing sisters name from deeds when mortahr is complete , On self assesment I did tick column where it states if CGT would be payable .
What CGT would be payable please and from when , what allowances can be deducted and I'm guessing from the answer s so far , inheritance tax could be payable ?
Thank you