I've recently bought a new house with my partner but haven't sold my current house yet. It needs a bit of work which coincides with my brother needing somewhere to stay for a few months.
My plan is to do the works required and put it up for sale early next spring.
Will I be liable for captial gains tax on the profits of the sale if its not my primary residence for 7 or 8 months?
Is there a grace period for property being classified your primary residence or is it deemed not the day you move out?
We are moving into new house this month.
My plan is to do the works required and put it up for sale early next spring.
Will I be liable for captial gains tax on the profits of the sale if its not my primary residence for 7 or 8 months?
Is there a grace period for property being classified your primary residence or is it deemed not the day you move out?
We are moving into new house this month.