Thank you for your question..
In order to advise you on likely CGT liability, I need to know
- the likely gain on the property in question
- how long did you live in the property as your main residence ( you say you moved out in Aug 2013)
- when did you buy the property
You do not pay CGT on the proceeds but on the gain made from sale of property.
Thank you for your reply..
I will revert to you shortly with my calculations
Thank you for your patience
I have carried out Capital Gains Tax calculations and based on information provided, there will be no CGT payable. I have attached my calculations for your perusal.
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.
I thank you for accepting my answer.