CGT on buy to let mortgage

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    CGT on buy to let mortgage

    Bought Property A in 2014 Apr (residential mortgage - first property and only owned property then)
    Lived there until Jan 2017 ( 34 months)
    Due to change in job location, I moved out to another town and lived in a rented
    accommodation until Jun 2019 and rented out Property A
    Property A was on rent from Feb 2017 to current date (35 months)

    As the new town where I live now continues to be my home for a foreseeable future,
    I have bought Property B in Jun 2019

    Property B was also bought in a residential mortgage as was planning to sell Property A at some point in time this year. Paid double stamp duty on property B as it was considered 2nd home
    Both the properties mortgage are coming up for renewal in Apr 2021

    So if I continue to hold Property A, it has to be moved to buy to let mortgage
    I am thinking of selling Property A now as I would like to offset a portion of home loan on property B

    ---


    Question 1
    1. If I sell Property A now, can i claim stamp duty relief on Property B considering its within 3 years of time since property B was bought?

    2. If I continue to hold on to Property A, as the market prices as down, and sell after Apr 2021
    i.e., after when I have moved it from residential mortgage to buy to let mortgage,
    is there a difference in Capital Gains Tax for a property on a buy to let mortgage vs a property
    which is on residential mortgage

    3. Is my situation getting worse off by holding on to Property A , as the duration of the period in which the
    the property was rented out will grown to be more greater than the duration of the period in which I have lived there?

    4. Am I missing anything else to be considered?



    #2
    1 - Yes, as far as I can see.
    2 - No
    3 - No idea - CGT is always a portion of the actual gain, so tax itself shouldn't be the main issue.
    4 - No idea, your personal situation is likely to be unique.
    When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
    Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

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