Selling a house

[mango]

When a person buys a house for the first time, how long after can they sell this house. Do they have to live in it for a certain time. What will happen in relation to capital gains tax and stamp duty? How much will they be charged?

 

[budapest]

There are several answers to these questions. What specifically do you need to know?

 

[ClubMan]

When a person buys a house for the first time, how long after can they sell this house.Do they have to live in it for a certain time. What will happen in relation to capital gains tax and stamp duty? How much will they be charged?

If the individual bought as an owner occupier, lived there for most or all of the period of ownership and never rented the property out other than under the rent a room scheme then no stamp duty (or clawback) or CGT should apply on the resale. However perhaps there is more to this query than meets the eye and you could expand on it?

 

[mango]

If a person built a house then sold it on straight away would they be liable for capital gains tax and stamp duty and any other payments. I have heard that you have to live in a property for at least a year and then can sell it without having to pay huge fees.