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Posted Tue, 20 Feb 2024 16:07:06 GMT by
Hello I am looking at the the Capital Gains Tax calculations to help my Mum as she weighs up whether or not to purchase her council house through the Right to Buy scheme. This question has come up which I'm unsure how to answer: "Did you buy the property for less than it was worth because the seller wanted to help you? " Would I select Yes or No in this scenario for a house bought through the Right to Buy scheme? Also, would there be any impact on CGT implications if the house was sold Back to the Council (lets say after the 5 year minimum period to avoid the need to refund part of the discount received when purchasing the property) as opposed to selling the home on the general market? Many thanks in advance
Posted Wed, 21 Feb 2024 13:09:19 GMT by HMRC Admin 19 Response
Hi,

You can see guidance here:

Your right to buy your home: a guide Updated 6 April 2023

Thank you.

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