Buying a Site

T

tred

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I am looking at buying a site. The question i have, if i buy the site, and build on the site. Can i still live in my own house and then sell it when the new house is complete and not pay any Capital Gains?, as in theory id have 2 propertys once the new house would be complete. Maybe this is a daft question, but i was just paranoid about it.
 
Building a house while living in another one doesn't cause any problems with your owner occupier status. Once the new house is ready and you vacate the old one you still have a year to sell the latter before CGT becomes an issue. Does that help?
 
ClubMan said:
Building a house while living in another one doesn't cause any problems with your owner occupier status. Once the new house is ready and you vacate the old one you still have a year to sell the latter before CGT becomes an issue. Does that help?
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Perfect. Thanks for that information.
 
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