moneyplease Hi moneyplease,Depends on what you mean by "your...

  1. bbm
    2,264 Posts.
    moneyplease Hi moneyplease,

    Depends on what you mean by "your home".

    1. If you have lived in it since purchase - No CGT

    2. If you purchased it, lived in it for some time (no minimum time required) and are now living elsewhere whilst renting it out, you may still call it your principle place of residence as long as it hasn't been an income earner for more than 6 years - No CGT

    3. Pure investment property - Full CGT with a discount if held for more than 12 months.

    4. Rented it first and then lived in it - CGT on the gain up until you moved in (need a valuation when moved in).

    5. Lived in it and then rented it out and for more than 6 years - CGT based on price when moved out and sale price.

    I don't know your situation but maybe one of the above applies to you.

    Hope this helps.
    BBM
 
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