capital gains tax question

capital gains tax question

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dreaddan

Original Poster:

282 posts

210 months

Tuesday 26th November 2013
quotequote all
Hi, Im trying to get my head round CGT and had a few questions.
We have recently moved house but have not sold the old house yet.
If we let some of our family live there for a year or so before we sell it without charging them any rent.
Would CGT apply?
if so from when?
When we move out or when they move in?

Thanks
Dan

Eric Mc

122,032 posts

265 months

Tuesday 26th November 2013
quotequote all
Family has no impact on CGT.

However, since it has been your Main Residence for a period, if you sell within three years of moving out, it will still be exempted from CGT.

dreaddan

Original Poster:

282 posts

210 months

Tuesday 26th November 2013
quotequote all
Thanks.
Makes things easier smile