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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4996
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I am a 72 yearold owner of a second property who wishes to

Customer Question

I am a 72 yearold owner of a second property who wishes to sell and fund my retirement, my cgt bill is quite high, is there any retirement relief i may be able to claim
Submitted: 1 year ago.
Category: Tax
Expert:  taxadvisor.uk replied 1 year ago.
Thank you for you question...There is no retirement relief available on sale of second home or CGT purposes, I'm afraid. Reliefs available are for private residence e.g.if the property was ever used as a main residence during the period of ownership then you avail private residence relief. I wish I could give you some favourable news on reliefs available on sale of second homes. I hope this is helpful and answers your question.If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.Please only rate my answer if it is acceptable.