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CGT on my only property that I've never lived in or rented out

Answer
karen meacham
Posted Tue, 19 Nov 2024 02:55:42 GMT by karen meacham
I purchased a property in UK that my daughter lives in with grandchildren. This is my only property as we are renting ourselves, living abroad. Is cgt due on this property when we sell as we have never received rent, no rental agreements etc.
Answer
HMRC Admin 19 Response
Posted Tue, 26 Nov 2024 08:12:11 GMT by HMRC Admin 19 Response
Hi,
Yes, it would be due. It has never been your main residence, so any gain arising from the disposal of the property would be chargeable to Capital Gains Tax.
Thank you.

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