Hi thank you for your question and welcome. My name is ***** ***** I will assist you. Was it ever your intention to go back to the house? Are the house utilities still in your name? Kind regards AJ
Hi, Thank you. The issue you have is if you want to save on capital gains tax then you will want to rely of the principle primary residence exemption. https://www.gov.uk/tax-sell-home - this is an automatic exemption - if you claim it, it will be up to HMRC to challenge this. The fact that you have not rented it, you have just not lived there gives you some grounds to claim it is your property and primary residence. Given that you have lived away from the property for such a long, I would recommend living there for a period and paying the council and declaring it as your home before selling it and trying to claim this exemption. If you claimed the exemption otherwise and the HMRC challenge it, you will have to prove that you lived there as you residence and this may be difficult if you have been away for such a long time. Do you know how much the property was worth when you moved out in 2008?
Hi thank you. There is no capital gains tax exemption for housing a dependable it all depends on whether you can prove that you used it as your home. From the sounds things if you claimed the exemption you pay have to pay CGT on the gain from when you moved out - less your personal allowance. Do you have any proof of the 2008 valuation? Kind regards AJ