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Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 7352
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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I want to sell my flat and wondered what my tax liability would

Customer Question

I want to sell my flat and wondered what my tax liability would be. I do not live in it at the moment. I paid £45,000 for it and it is worth 250,000, i want to pay as little tax as possible, should i move back in and for how long?
Submitted: 5 years ago.
Category: Tax
Expert:  TonyTax replied 5 years ago.
Hi.

If you let me have the following information I'll do some calculations and let you know if there is anything you can do to reduce your tax exposure:

1 The month and year you bought the property. Did you move into it right away?

2 The month and year you moved out of the property? Was it let immediately?

3 Has the property been let more or less continuously since it was first let?

Expert:  TonyTax replied 4 years ago.
Hi again.

Do you still need an idea of your potential liability to CGT if you sell your flat? If so, please let me have the information I asked for in my previous post and I'll do some calculations. Here is my previous post:

Hi.

If you let me have the following information I'll do some calculations and let you know if there is anything you can do to reduce your tax exposure:

1 The month and year you bought the property. Did you move into it right away?

2 The month and year you moved out of the property? Was it let immediately?

3 Has the property been let more or less continuously since it was first let?