Capital Gains Tax and Foreign studentsMake Text Bigger
As we all know, your main residence is free form CGT if you live in it as your main or only residence.
I am trying to determine the CGT status if my wife and myself let let a couple of bedroooms to foreign language students or young people who come to the UK and require “homestay” accommodation.
I have been advised (not by Inland Revenue) that CGT would be payable on the sale of the house but I am far from convinced.
I would expect to pay CGT if I created a self contained flat within the house and let that on a AST or took a lodger but I just don’t understand the situation with homestay accommodation.
Does anyone have any knowledge or experience?
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