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TonyTax
TonyTax, Tax Consultant
Category: Tax
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Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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I have a flat I bought in 2009 and lived in until april 2012.

Customer Question

I have a flat I bought in 2009 and lived in until april 2012. After that time I rented the property outand the tenant is still there. Iam looking to sell now but wanted to know if I have to pay CGT.?
Submitted: 3 years ago.
Category: Tax
Expert:  TonyTax replied 3 years ago.
Hi.

You should refer to HMRC helpsheet HS283 as part of this answer.

So long as the property you wish to sell was your main residence from the time you bought it and it is sold within three years of your moving out, you won't have to pay any Capital Gains Tax. The last three years of ownership of a property which has been your main home at some point are always given as a tax free period, even when you were not living in it.

I hope this helps but let me know if you have any further questions.
Customer: replied 3 years ago.
Many thanks. I thought that was the case but wanted a definative answer.
Expert:  TonyTax replied 3 years ago.
Thanks and good luck with the sale.

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