How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Sam Your Own Question
Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 7379
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
16196420
Type Your Tax Question Here...
Sam is online now

I own one house worth £495000 I have never lived in would I

Customer Question

I own one house worth £495000 I have never lived in would I have to pay cital gains is there a way around it
Submitted: 2 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 2 years ago.
Hello and welcome to the site. Thank you for your question.

Please advise what the cost price was, how long have you had it and what is the likely gain if you were to sell it?
You say you never lived in it.. would you consider moving into the property and make it your main residence for a period if it meant you could claim private residence relief for the period it remains you main residence.

Many thanks