I have had a house for 35 years. In that time it has been rented out for about 12 years. I have owned the house for 25 years. Six years ago i borrowed to by another house that i live in and rented out my first house. The last six years is the only time it has not been my ppor. How do you think i go with cgt. Thankyou
Capital Gains Tax was introduced in Sept 1985, any asset purchased prior to this date does not attract CGT on the disposal of the asset. Regardless of whether you lived in it or not. See a financial advisor before you sell it as it might be better to keep it.
You've had a house for 35 years BUT you've owned the house for 25 years - What happened that created that difference and when?