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Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 13865
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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I want to rent my house out and travel and at a later date

Customer Question

i want to rent my house out and travel and at a later date sell will this affect the tax free sale of my home?
Submitted: 11 months ago.
Category: Tax
Expert:  Sam replied 11 months ago.

Hi

Thanks for your question

It could do, how long do you plan to travel for?

Thanks

Sam

Customer: replied 11 months ago.
maybe two or three years and after that i may want to sell
Expert:  Sam replied 11 months ago.

Hi

Thanks for your response

Then yes you will have a capital gain if you sell it, and its more than 18 months after leaving the property - however, if you come back to it within 3 years - and then sell at a later date then that 3 years can be exempted under the private residence relief rules which allwos a period of anything up to 3 years for any reason, but the imperative key is that you would have to take back up residence in the property

Let me know if I can assist further, but if you have all that you need, it would be appreciated if you could rate me for the level of service I have provided (or click accept)

Thanks

Sam

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