Hi there. My wife and bought second house two years ago. We have planned to refurbished it and then rent it. However, we were unable to rent it so we think about selling it because prices are higher these days then they were two years ago. Are we liable to pay CGT on second property?
Hello to you. Yes, you will have to pay CGT when selling second property. You can avoid capital gains tax only if you sell your primary residence. Because this is you second house and you have not lived in it then you are going to pay tax in the case you sell it. I hope this helped.
