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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 9417
Experience:  FCCA FCMA CGMA ACIS
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I have just sold my house which was my family main

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I have just sold my house which was my family main residence , but I have scenod house in my work place , can I ask if I need report HMRC for the capital gain
JA: What are the assets or property for this capital gain?
Customer: sold House
JA: Anything else you want the Accountant to know before I connect you?
Customer: Family main residence was in Aberystwyth from 2003 and in 2014 I bought a house in Birmingham in my work place only my self live in the house

Hello, I am one of the experts on Just Answer and pleased to be able to help you with your question.

You have sold your main family residence thus Private Residence Relief (PRR) applies which relieves Capital Gains Tax (CGT) at 100%. This relief is given automatically.

Customer: replied 6 days ago.
but I have second house in Birmingham from 2014 . I did not nominated which one was my main residence

Then it will be based on the facts which point to your Welsh residence.

Sorry, I do not do telephone calls, they are no longer cost effective.

Customer: replied 6 days ago.
what facts?

That you have your original residence and have not elected a change.

bigduckontax and other Tax Specialists are ready to help you
Customer: replied 6 days ago.
in this fact if I need pay CGT

No, PRR will apply and will be given automatically.

Customer: replied 6 days ago.
do you mean I do not need pay CBT or report HMRC?

No.