CGT on rental property that used to be my home?

R

redcard

Registered User
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Can I ask if I sell my rental property am I liable for cgt on the Full amount or the difference between the original purchase price and the now value or the difference between the value it was when it ceased being my private residence and the value it is now
 
Yes thanks I will be getting professional advice when the tile comes, I’m just trying to figure out where I stand for now
 
redcard said:
the difference between the value it was when it ceased being my private residence and the value it is now
Click to expand...
I think the way it works
Say you own it for 10 years
You lived in it for 3 years
You're liable for 7 / 10 the cgt

Or you can deduct 3 / 10 = 30%
 
moneymakeover said:
I think the way it works
Click to expand...
Why guess - and get it wrong - when I already posted a link that explains the CGT tax treatment in this situation?

You omitted the fact that the last 12 months/365 days are also exempt even if the property is rented at that time. Also, a more accurate calculation would be done using days rather than round years. The Revenue example uses round years for simplicity and for the purposes of illustration.
 
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Thank you Clubman I was not aware of this CGT relief based on the years the property was your PPR. As always excellent accurate advice.
 
The OP could at the outset have found the answer to their question with 5 minutes on Google.

And unfortunately too many contributors here are too fond of providing hit-and-hope guesses to questions posed.

Kudos to @ClubMan for his indefatigable patience.
 
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