Are we liable for capital gains if we move into a former rental property? | Money | guardian.co.uk
Q We are selling our main home where we have lived for 14 years, and are moving into a flat we have owned for five years, which is currently worth less than we paid for it. This is as an interim measure until we buy another main home (hopefully in less than six months). We will then sell the flat, probably at a loss. Would we be liable for capital gains tax (CGT) on our old main home because we will have been resident for a period in the flat?
A Moving into the flat has absolutely no bearing on any potential CGT bill on your main home. ....
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