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Selling my BTL

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  • Selling my BTL

    i guys i'd really appreciate some help.

    I bought a flat back in 2010 which I lived in for 5 years when I was single.

    In 2015 I got with my current partner and i decided to rent the flat out so I spoke with a local broker and got a buy to let mortgage.

    Times have moved on and i'd really like to sell the flat now so that we can buy a bigger house but i'm really worried about capital gains tax and whether anything would be due. The flat has been rented for about the last 20 months.

    Can anyone advise me if capital gains tax would be due?



  • #2
    Another old question, but just in case someone is in a similar situation: this is a question for your accountant / tax advisor.

    However, just to give hope: I owned my flat for 10 years, rented it out for 21 months, then it was empty for 8 months prior to completing its sale. My accountant worked it out that with all the allowances applied, I didn't have to pay CGT. It was definitely worth paying £120 to an accountant to have this result
    I am a Mortgage Advisor
    For further information and for tailored advice:
    [email protected]