Hi,
I bought a house just over 2 years ago and it has been my PPR since then. I have been renting out 2 of the rooms, while keeping the rental income below the tax threshold. I am planning on moving from the area I am in and renting in a different place this summer - while keeping the house I have.
I have read alot of the threads on AAM about CGT/PPR etc but what I would like to know is if I decide to sell the house this Summer and not buy another place what are the tax implications (I will have the house for 2.5 years at that stage and did not have to pay stamp duty when I bought it - it was second hand house but below the 317k for FTB).
Many Thanks,
Rebelman.
I bought a house just over 2 years ago and it has been my PPR since then. I have been renting out 2 of the rooms, while keeping the rental income below the tax threshold. I am planning on moving from the area I am in and renting in a different place this summer - while keeping the house I have.
I have read alot of the threads on AAM about CGT/PPR etc but what I would like to know is if I decide to sell the house this Summer and not buy another place what are the tax implications (I will have the house for 2.5 years at that stage and did not have to pay stamp duty when I bought it - it was second hand house but below the 317k for FTB).
Many Thanks,
Rebelman.