Nikko2

If you sell a house that is your main residence within two years of purchase do you have to pay CGT on the increase in value?

Puff The Magic Wagon!

iTrader: (2)

I don't believe so - only if its an investment property & not your main place of residence. Even then, if its not your main place of residence but has been, I believe there is a 2yr gap b4 CGT is due - but I may be wrong on that.

Diablo

Nope, no CGT on main residence sales, regardless of time spent living there

D

Nikko2

Good I thought GB would have been up for taking some of that money as well.

basal_lobe

no CGT at all, if your clever and move on from house to house you can sell quite a few primary residences totally legally and pay no tax whatsoever.