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Muhammad Haider
Muhammad Haider,
Category: Tax
Satisfied Customers: 812
Experience:  Director at HM Accountax
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We bought a flat in July 2014 to rent out while we were out

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Hi .we bought a flat in July 2014 to rent out while we were out of the country. We declared all rental income to hmrc .we returned to the UK in January 2019 and lived in the flat until we sold it in November 2019 can you advise me if there is a tax liability..thanks Steve
JA: Which tax year are you filing for?
Customer: 20/21
JA: Is there anything else the Accountant should know before I connect you? Rest assured that they'll be able to help you.
Customer: Only I recieved a tax code with with less property income of £ 2366 .

Hi,

I am an advisor at JA and happy to assist you.

Yes, you need to pay CGT on disposal of flat but you'll get relief for the time you stayed in the flat.

Regards

HMAT

Muhammad Haider and 2 other Tax Specialists are ready to help you
Customer: replied 11 days ago.
How do I calculate the amount

When did you sell or give away the property? (tax.service.gov.uk)

When did you sell or give away the property? (tax.service.gov.uk)