Orangefruit
Registered User
- Messages
- 7
Hi all,
It might be a silly question for some of you , but see below:
If you sell your principal residence house , I understand there is no CGT to be paid as it is your principal residence.
But what if you can't find your dream house to buy straight after selling your home and sit with the money in an account for I don't know let's say a year waiting to find the right house. Do you have to pay any capital gain tax then if you left the money in an account for quite a while ? As I said, it is in the event you don't find the right house for a while.
Thank you
It might be a silly question for some of you , but see below:
If you sell your principal residence house , I understand there is no CGT to be paid as it is your principal residence.
But what if you can't find your dream house to buy straight after selling your home and sit with the money in an account for I don't know let's say a year waiting to find the right house. Do you have to pay any capital gain tax then if you left the money in an account for quite a while ? As I said, it is in the event you don't find the right house for a while.
Thank you