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stearn
Apprentice
Joined: 05 Jun 2007
Posts: 7
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 Posted: 01/06/08 - 07:12 Post subject: |
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| Hello everybody. Originally I am from London, but I work in one company in Oxford for many years. So far, I was able to travel every day but it wasn’t very convenient for me. So, I decided to move to Oxford for definite. According to that, I’d like to sell my house in London. What I’d like to know is more about taxes, especially about CGT. Can someone please tell me more about paying CGT on house sale? Thank you in advance. |
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will
Apprentice
Joined: 04 Jun 2006
Posts: 12
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| Posted: 02/05/08 - 02:08 Post subject: |
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| Hello to you too. Unfortunately, you missed to tell if you’re going to sell your primary home or not. It is because the matter is very much different. If you’re selling your main home, which means your PPR, you don’t have to pay CGT. In order to get this exemption, you need to fulfill certain criteria. Those are: you had to buy it for living, you live in it for most of the time, it is your only home and ground is not bigger than 5 000 square meters. If it’s not the case, you will be eligible for CGT. What you need to have is contract for buying the house, any documents about possible gift or inheritance, copies of all kinds of valuations connected to the property and all the bills and payment records. That would be all from me. Good luck with the whole process. |
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