CGT liability on 2 houses

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    CGT liability on 2 houses

    Hi when I bought my cottage I live in I then bought the adjoining cottage just under 6 months later. the adjoining cottage has a sitting tenant who pays me rent. I'm now considering selling both my own home and the adjoining cottage to separate buyers. if I sell both at or within a few months of each other will I incur capital gains tax on both houses? My own cottage I have been resident in the whole time period of owning it. Thanks

    #2
    The house you have lived in will not incur a CGT charge but the other one will, regardless of when you sell it.

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      #3
      Does it matter that I bought both within 6 months of each other?

      Comment


        #4
        No. Can we check you've genuinely lived in your current home all the time since you purchased it? If so, no CGT on your home.
        I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

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