Selling house, are you ever eligible to pay Capital Gains?

Also, note that it doesn't matter whether the house is rented or not, it is not your PPR and therefore subject to CGT as per jpd's calculations.
Sybil
 
JPD, many many thanks for your very thorough calculations.

By this reckoning then, its a sum that is a wholw lot less than I thought it was going to be.

Perhaps it might not be so scary now to try renting for a couple of years.
 
bacchus said:
Sure they did as your sister overpaid. Wonder if she can go back and claim for the error, e.g. 12 months grace not taken into account in CGT calculation.
Click to expand...

I did take the 12 months free into account, just forgot to mention it, in explaining the overall picture.

BTW full marks to JPD for those calculations!
 
Mrs Vimes said:
Also, note that it doesn't matter whether the house is rented or not, it is not your PPR and therefore subject to CGT as per jpd's calculations.
Sybil
Click to expand...

In RMCF example, PPR from Dec2000 to Oct 2010 and rented to Oct 2011 or 2012.
 
I know, just pointing out that if it doesn't work out and OP can't rent it out and then it takes 2 years to sell (not impossible these days) he would still be liable to CGT.
 
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