Jordt21 Todd
Joined: 5/1/2024
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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.