Dracoro

Hiya peeps. what with being made redundant & not knowing when I may get a new one I may need to sell my flat to pay off debts, and may re-invest in a cheaper flat later on at some point. Can the money I use to pay of debts be offset from the amount that is taxed on? Do I get to avoid the tax if I re-invest(buy another flat etc) within this financial year?

Many thanks if any of you can help.

fast bloke

you don't have to pay any CG tax if this is your primary residence. If it isn't you should speak to an accountant. There are various ways of offsetting CG depending on your circumstance

Dracoro

Cheers FB.
Yeah, this is my only property (where I live in at the moment).