TRJP

Has anyone had to pay capital gains tax on the profit you have made on selling your houses?

I didn't know about this and am a bit annoyed that I am leaving the UK yet they are still going to take one last lot of our money!

Is there any way to avoid it?

bridiej

If you have "houses" plural then you have to pay CGT on any which are not your principle residence.

No way round it...

TRJP

What about if we are just selling our UK house and then looking to bank the money and rent in Australia until we decide what to buy?

possoms

just found this article 'nightmare'

http://www.politics.co.uk/the-economy/treasury-dismisses-house-tax-claims-as-barking-$13017475.htm

sorry trying to post a link but its not working, its saying labour are planning to bring in cgt for sale of any property. At present its you only pay it if you have a second home.

Its a nightmare we are trying to get round it as partners father is trying to give us his share of the family buisness, infuriates me as they have already paid tax all these years on the property why should they have to pay again.

Kay

bridiej

If you just have one house and it's the house you live in there is no CGT.

DianeOZ

You won't have to pay anything as this is the only home you have (I assume). Just pop the money in the bank until you have decided.

Diane