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Posted Tue, 02 Jul 2024 10:57:59 GMT by HarryCat27
Hi there, Myself and my husband bought a one-bed terraced property together in March 2015. In June 2021 we bought a second property, made that our sole residence and rented out the first property. In July 2023 we sold the second property, and I moved back into the first property as my sole residence. We have now sold the first property, and completion happened earlier in June. I have moved to a rented property. Do we need to pay any capital gains tax on that recent sale? If it matters, the house was sold within 3 years of us originally moving out (I saw on another thread some detail about this). Thank you very much for your help.
Posted Fri, 05 Jul 2024 10:48:50 GMT by HMRC Admin 8 Response
Hi,
Capital gains is likely on the 1st property as it has not been your main residence for the whole period of ownership and you have confirmed the 2nd property was your main residence:
HS283 Private Residence Relief (2024)
Thankyou

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