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capiital gains tax

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killerman | 13:46 Sun 10th Jun 2007 | Business & Finance
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Hello There,

I am selling my house shortly and I would like to know if anybody could tell me when I would be liable to pay capital gains tax on it.

Many Thanks
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Avatar Image ajwt2
you shouldnt have to pay capital gains tax on the house as long as it was the main place that you lived (I think that measn you need to have slept there for 6 months of the year). Also if you used the house for business purposes and claimed tax back on the upkeep you may be liable for capital gains, but other than that you should be fine
14:48 Sun 10th Jun 2007

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