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taxadvisor.uk, Chartered Certified Accountant
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If I sell a buy to let property do I have to pay capital

Resolved Question:

Hi if I sell a buy to let property do I have to pay capital gains on it if I invest some or all of the proceeds in another buy to let property
Submitted: 12 months ago.
Category: Tax
Expert:  taxadvisor.uk replied 12 months ago.

Thank you for your question..

Gain from sale of residential property is chargeable to CGT upon sale.

You cannot defer or roll over CG relief on it as the property is not used as a furnished holiday letting.

More information on where Business asset rollover relief is available is covered in helpsheet HS290 here

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/323714/hs290.pdf

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.

taxadvisor.uk and other Tax Specialists are ready to help you
Expert:  taxadvisor.uk replied 11 months ago.

Hi there

Just checking to see if there are any issues I have not answered from your question or if you need further clarification.

Many thanks

Expert:  taxadvisor.uk replied 11 months ago.

I thank you for accepting my answer.

Best wishes

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