I lived in both houses as my main residence - one for 4 years and one for 2. I will have all utility / council tax proof of living there but I didn't notify anyone specifically as I didn't think of this situation ahead. As I have had rental houses for a long time I have an accountant that noted the £40k loss of another house the year before.
The table shows my hack tax calcs. House 1 is sold already and house 2 is going to be sold. I am trying to minimise tax so thought if private letting relief is only available once per year it might help to wait until after april to sell
Pete, thank you for your reply.
It would be helpful if you provide dates (for each property) as follows:
Date property bought
Period as main residence (dates)
Date property sold
I will revert to you with my calculations soon.Many thanks
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Thanks. Just a couple of points:
I was not living in the properties when they are / were sold as you said. Does this make a difference? I did live in them but I have another house now that is seperate that I live in.
Also, the £39k chargeable gain would be covered by my previous loss but what would the tax be on that if not?