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Hi.Provided that the property you sold was your only or main home for the entire period of ownership plus a maximum of 18 months after you moved out if you did actually move out, then you will have no CGT to pay. It is not a requirement that you buy another property to live in.The money you have in the bank pending another property purchase will not count as income for tax credit purposes. If it earns any interest, that interest will count as income for tax credit purposes but you are allowed to discount the first £300 of unearned income for tax credit purposes. Take a look here for information on what counts as income for tax credit purposes.I hope this helps but let me know if you have any further questions.
The property was my only home and I did move out on completion day.
I'm unsure what the 18 months means ?