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Posted Tue, 22 Oct 2024 05:19:12 GMT by rsrkhan11
I'm a British expat working overseas since 2014 and bought a house on a residential mortgage in 2019, with view to return to UK in 2020. Unfortunately Covid and UK jobs market meant I could not repatriate. between 2019 and 2021 the house went through major renovations and then instead of putting it on rent, to save the house and condition I asked my parents to live in it and take care of the house. they do not pay rent or any other expenses to me. I come and stay in the house every year for 6-8 weeks when we repatriate. Now, I want to sell the house and buy a larger property, so the question is since it was never let out, and also is under a residential mortgage, do I still have to pay CGT??
Posted Tue, 29 Oct 2024 09:42:41 GMT by HMRC Admin 19 Response
Hi,
Possibly, as it has not been your only or main residence for the whole period of ownership. Please refer to the following guidance:
CG64582 - Private Residence Relief: deemed not a residence: residences in another territory: day count
CG64495 - Private residence relief: only or main residence: two or more residences: time limit for nominating
HS283 Private Residence Relief (2024)
Thank you.

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