Selling a house - is the money I get all mine?

[Postdog]

Basically, aside from estate agents fees, any redemption fees and solicitors fees, is the money I'd make on selling my house subject to any other costs or, more important, taxes?

I have a �75,000 mortgage on a house worth over �200,000, so I will make a bit. BTW, for the sake of this question, I have somewhere else to live lined up, and I'm only concerned with what I'd get from selling.

[Ethel]

Yes - unless it is not your main residence in which case it MAY be subject to capital gains tax.

Don't forget to check the terms of your mortgage - is there an early redemption fee or similar penalty?

[Postdog]

Ta - it Is my main residence, so it looks like I'll have to check that out.

[Ethel]

No need to check it out - it is your main residence, so no CGT payable.

[m@d h@tter]

I think the way it will work is:
from the proceeds of your sale, your solicitor will settle your outstanding mortgage with your building society, pay off the estate agents fees, deduct the legal fees and disbursements, and what's left they'll send you a cheque for.

You should buy me and Ethel a drink with all that profit : )