2 houses and revenue

[johnnyg]

The sale of our first house has fallen through and in the mean time we have moved into our new ppr house, is there a time limit with revenue for holding onto the 2 houses at the same time, the first house is up for sale again and the way the market is at the moment, it could be a while before its sold.

 

[Howitzer]

12 months before the gains become liable for CGT, and even then it's only proportional from that point on. There's loads of threads where the details are discussed.

 

[johnnyg]

thanks Howitzer, is it 12 months when you move into ur new house or when you get the keys from the builders for the new house