serotoninsid
Registered User
- Messages
- 1,754
Difficult to say if this is in the right section - so mods, please move as you feel appropriate.
I have a PPR at the moment and rent rooms out in this property (and have done since I bought it). I spend ten hours driving to work each week and a 80 mile roundtrip each day.
Therefore, I'm looking at buying a second property close to work - which will also have some form of rental element involved also.
Question: If at some stage, I decide to sell one of these, provided, its my PPR, I pay no CGT on it - is that correct?
If I was to sell the second one a year later, would CGT apply? The essence of my question is - there must be some element of a timeline involved with regard to the application (or non-application) of CGT??
I have a PPR at the moment and rent rooms out in this property (and have done since I bought it). I spend ten hours driving to work each week and a 80 mile roundtrip each day.
Therefore, I'm looking at buying a second property close to work - which will also have some form of rental element involved also.
Question: If at some stage, I decide to sell one of these, provided, its my PPR, I pay no CGT on it - is that correct?
If I was to sell the second one a year later, would CGT apply? The essence of my question is - there must be some element of a timeline involved with regard to the application (or non-application) of CGT??