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Sam, Accountant
Category: Tax
Satisfied Customers: 7544
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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I own one house worth £495000 I have never lived in would I

Customer Question

I own one house worth £495000 I have never lived in would I have to pay cital gains is there a way around it
Submitted: 2 years ago.
Category: Tax
Expert: replied 2 years ago.
Hello and welcome to the site. Thank you for your question.

Please advise what the cost price was, how long have you had it and what is the likely gain if you were to sell it?
You say you never lived in it.. would you consider moving into the property and make it your main residence for a period if it meant you could claim private residence relief for the period it remains you main residence.

Many thanks