capital gain tax

[CSLmarson]

hi there

can someone with a bigger brain explain in simple terms capital gain tax ???

im looking to move out of my flat and rent with the misses, im going to rent my flat but want to know the loop holes / catches as my flat has gone up in value a lot in the last few years and i will be looking to sell in the next year or so.

cheers

[CSLmarson]

Thanks for the answers chaps

So if I rent my flat out as long as it's sold and a done deal within 18 months I don't get taxed on the profit yea ???

[CSLmarson]

And sorry what do you mean by 11k allowance ??

[CSLmarson]

Just one more question gents
If I move out for a year and rent my flat out and move back in after 12 months but before 18 months
How does this affect the taxation. ??
Thanks