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Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 15586
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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I have just sold a property and i'm in the process of buying

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i have just sold a property and i'm in the process of buying another would i have to pay tax on the amount which i received? and at what percentage?
JA: When was the property or asset sold?
Customer: 30 june
JA: Anything else you want the Accountant to know before I connect you?
Customer: no

Hi, Sam here , one of the UK tax Experts here on Just Answer, thank you for your question and I shall reply shortly

Hi

No you pay tax on any capital gains rising

So the house you are selling when did you buy it

Did you live in it throughout the whole period of ownership

Is the property is anyone else's name

Did they live in throughout the whole period of ownership?

I can advise further

Thanks

Sam

Customer: replied 6 days ago.
Hi
Property purchased July 2013. Lived in property throughout ownership. Property in my name only.
Thank you

Hi

Please press the phone call request if you require a telephone call - it should appear as a pop up

Thanks

Sam

Sam and other Tax Specialists are ready to help you

Hi

So as per telephone call no capital gains tax as you lived in this first property throughout the whole of the ownership so the whole profit is covered under the private residence relief rules

Thanks

Sam