Hello,
I have sold (subject to contract) my house. I may decide to rent for a while after completion so I can choose at leisure where to move to.
Is there any tax to be paid from the sale of the house? I know there isn't if I immediately buy another one. But what if I wait a year? Or never buy another house again in the UK (e.g. move abroad)?
TIA,
Lomax.
No tax on any gains on your main residence, whatever you do.
In article , lomax writes
There is no such option to avoid tax by buying another house (are you thinking of some sort of "roll-over relief"?).
If the property has always been your main residence (or always except for the last 36 months), then no tax should be due, as any gain is exempt.
Have something to add? Share your thoughts — no account required.
Ask the community — no account required