CGT on sale of family home.

[DirectDevil]

Suppose the following scenario ;

1. Wife and I own a semi-detached house and no other property.
2. The house is the family home.
3. We buy the other half of the building i.e. the semi-detached next door.
4. We make structural alterations whereby the one building is now owned and occupied as the family home.

If we sell is the exemption on CGT on sale of the family home applicable to our original house only or to the two houses that became one ?

 

[Gordon Gekko]

Both as each part was your family home whilst you owned it

 

[noproblem]

Do you need to be living there for a minimum of 5 years? Then again maybe not but can't be certain.

 

[Gordon Gekko]

Do you need to be living there for a minimum of 5 years? Then again maybe not but can't be certain.

No, you don’t.