Shelter’s Income and expenditure figures highlighted13:57 PM, 4th February 2019
About 3 weeks ago 35
This came up while on holiday with friends who are considering selling a rented property. They and others were convinced they did not have to pay CGT if they had owned it for 10+ years, until I poured cold water on that notion. However, I was not entirely clear about the actual rules and calculations.
I believe this was discussed some while back, but can someone please provide a ‘simple’ method of calculating the CGT liability on a property owned for 10 years, lived in for 2 years, rented for 8 years, then nominated as PPR before selling. Purchase price £260,000. Potential sale price £530,000.
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