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Capital gains tax on main home


nicholas_b

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Hi,

Quick question. I currently own a few BTLs in my own name, and my residential is jointly owned with my partner (not married).

If we sold our resi to buy another (as our main home), would we pay cgt? I dont envisage it being loads to be honest but I just wanted to factor it in because we're thinking of upsizing. 

Thank you.

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No you wouldn't. Your main home is exempt from CGT 

_______________________________________________________________________________________________________________________________
Vin Gupta
Property Investor and Developer
UK Property Blog: https://evolutionblogger.com/article/uk-property-articles
Travel Blog: https://soulfultravelguy.com/

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3 hours ago, vineet gupta said:

No you wouldn't. Your main home is exempt from CGT 

Currently...

 

I actually suspect it'll stay free as well - whilst it may not matter to some of the new northern Tory constituencies, it would create mutiny in the shires, especially considering what the bill could be in some of those areas for people who've owned their homes for 20+ years

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5 minutes ago, dino v said:

Currently...

 

I actually suspect it'll stay free as well - whilst it may not matter to some of the new northern Tory constituencies, it would create mutiny in the shires, especially considering what the bill could be in some of those areas for people who've owned their homes for 20+ years

I agree. An Englishman's home is his castle. I don't think a Labour or Tory Government would mess with main home exemptions 

_______________________________________________________________________________________________________________________________
Vin Gupta
Property Investor and Developer
UK Property Blog: https://evolutionblogger.com/article/uk-property-articles
Travel Blog: https://soulfultravelguy.com/

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