Capital taxes

Capitalgainstaxandthefamilyhome

This group of factsheets covers taxes on the disposal, generally by way of sale, of capital assets and the taxes due on death.

All Capital taxes factsheets

Most people never think of their home as something that could attract capital gains tax, and in the majority of cases a relief exists to keep the gain on your only or main residence out of tax altogether. This applies for the period the property has genuinely been lived in as your home.

Problems can arise where part of the home has been let out, used exclusively for business, where there has been a period of absence, or where you own more than one property and have not formally nominated which is your main residence. Getting this wrong can lead to an unexpected tax bill, so advice before selling is sensible.

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