Property News · June 22, 2017

Will I be taxed if I sell my house, which I rented out, and buy a new one to live in?


I lived in it with my late wife before letting it, and want to sell. Where do I stand regarding stamp duty and capital gains tax? Q Could you please help? In 1984, I purchased a house and lived there with my late wife until August 2015. I then rented the house out and moved in with a friend as I didn’t want to live there anymore (too many memories). I would now like to sell the house and buy another in a different area to live in on my own. Would I be liable for any tax, doing this? TA A If the house you end up buying costs more than £125,000, you will definitely have to pay stamp duty land tax (SDLT) and you can work out exactly how much using our handy SDLT calculator. Continue reading…

Source : theguardian.com
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