Jump to content

Help - Tax Implications on sale of sole property/part rented

Please note that this topic has not had any new posts for the last 2239 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

Recommended Posts



I am trying to work out if I may have a CGT liability coming up upon selling my house.


I bought the property 15 years ago.

Renovated for 2 years.

Rented the whole house out for next 1 year.

Then lived in it for 1 year.

Since then, 9 years, I have either done short rents - anything from a few weeks up to 6m - and around that rented rooms whilst living in it.


I have filed Self Assessment tax returns each year, including either Rent a Room page or the Land & Property page with the property income, less expenses and relevant % deduction of the interest only mortgage for my benefit of living in the property.


It is the only property I own.


When I rented the whole house out it tended to be around holiday time and if longer we stayed in a friend's place for free.


The property was also bought on a short lease.

After 14m of negotiations I have just finalised terms to buy the freehold.

It is now my intention to sell the property.

But I am nervous if I may have a CGT liability.

The value on the short lease is low. The value on the new freehold is very high.

There is a huge difference in the value of the property now compared to 15 years ago. I aim to sell it on the freehold / high value rate.


As the property is my only property / sole residence will I have a CGT liability?

And if so, how would I work it out - on the short lease value? or on the long lease / freehold value?


Also - for how long - without any rentals - would I have to reside in the property to not incur any CGT liability?

Or am I not due any CGT anyway as it is my only property?


Would be most grateful for advice.

Many thanks


Link to post
Share on other sites
  • Recently Browsing   0 Caggers

    No registered users viewing this page.

  • Have we helped you ...?

  • Create New...