selling investment property <1yr - CGT payable?

Hi - we are planning on selling an investment property that we just closed on due to changes in our circumstances. If we sell within a year will CGT still be payable ? I know that there are rules for the first year being 'disallowed' but was wondering if this would be the case in this type of instance.

Did you own and occupy another house at the same time?

yes.

In that case I would have thought that CGT is payable, assuming you make a profit on sale. See this thread and others on 'flipping' (may not be the correct term here) for more info.

Your solicitor should be able to give a more definitive answer.

The '1 year' exemption only applies where you are selling your PPR and have lived elsewhere at the same time.