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Sam
Sam, Accountant
Category: Tax
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If I bought a house and I send it within 2 years after purchased,

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If I bought a house and I send it within 2 years after purchased, will I need to pay Capital Gains tax? Somebody told me that it is free within two years time, is it correct?
Hi
Thanks for your question - I am Sam and one of the UK tax experts
IF the property has been your main residence throughout its ownership, and you then move out - then you have 18 months from the date you move out - to sell and NOT incur a capital gain (or the last 18 months of ownership if the sale takes place more than 18 months later) but these are the only time this exemption applies.
Thanks
Sam
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