Capital Gains Tax dilemma

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    Capital Gains Tax dilemma


    I am considering whether to sell my house which has been let for some time and need to see how I can best deal with CGT.

    I lived in the property from 1984 until 2006.

    From 2006 it has been occupied by tenants, now vacant and being renovated.

    Can anyone advise me on how I would be impacted by CGT. I would sell and buy another property.

    Many thanks for any advice.

    You declare (online) and pay CGT within 60 days of sale. Depending on the numbers I would expect you to pay CGT. What records do you have of applicable costs, etc?

    What you pay will depend on what CGT rules when you sell - v unlikely to be better than today, possibly worse. Covid, cost of leaving (Brex**it), Ukraine etc need paying for.

    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...


      You should seek advice from an accountant, or a property tax for tailored advice to your specific circumstances, you may be entitled to some relief if the property at any time was your own principal residence.


        You have owned the property for 38 years ( 1984 - 2022 ) and lived in the property for 22 Years ( 1984-2006 ) plus 16 years for letting..

        The total capital gain over 38 years is apportioned between "residence period" ( exempt for cgt ) and "letting period" ( liable for cgt ) .

        If total capital gain is, say, £200K over 38 years , then approx "letting period gain" = £200K x 15 /38 = £78K becomes taxable.


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