When do I pay capital gain tax?

I need some advice. I’ve lived in my flat for 2 years and am planning to move into my boyfriends and rent out my flat. I’ve heard when I eventually sell my property I would have to pay CGT, I need help understanding how this works? I’m a 40% tax payer already. I’ve read that you don’t pay CGT if you sell within a certain time frame and also the amount of years I have lived here (2) will be deducted. I’ve read various things but need actual facts. Would I pay CGT on just the inflation? Or the amount of the whole property when I sell. If someone can help that would be great. Thankyou.

Hi Jordt21 Todd,
HMRC cannot comment on future events as legislation and/or plans may change.
For current guidance, please refer to:
Tax when you sell property
Thank you. 

 

I have just sold a property that I inherited 17 years ago. I can’t remember the probate value as I will need to pay capital gains. How do I find this out ? The property was sold today so time is ticking to pay

Hi,

You can see guidance here:

Search probate records for documents and wills (England and Wales)

Thank you.