Capital gains tax

scrumpy78 | 10:46 Mon 29th Sep 2008 | Business & Finance

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I've lived in my house for 5 years and am now moving into a new property with my boyfriend ( joint mortgage ) and wish to rent mine out. If i then sell after i've rented it for a while, what is my capital gains tax liability. I bought the house for �80k 5 years ago and it is now valued at �140k.

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Tom Braider

Impossible to predict what your CGT liability will be at some unspecified time in the future but if you sell the place within 2 years of moving out it will still be wholly exempt. After that the caculation gets complicated!

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