UK Landlord Forum / Life

Hi,

Wonder if anyone can advise?

I was thinking of moving from my current (owned) home into the rented property I own for saving on future CGT.  What is the shortest acceptable time I would need to do this for in order to gain 3 years (I think) exemption from CGT?

Thanks
Michelle

1 Night is the minimum.

You need a bit of proof if you think that it may be challenged. Getting your bank to change your address is a good one.

You again stand a better chance of succeeding if it looks real, i.e. you have only done it this once.

Given property values have been slow for the last 7 or so years, this can be a good way of clawing back gains made earlier than this.

BUT given the money involved, go get yourself an accountant.

Thank you for the advice.  I will discuss it more fully with my accountant!

My understanding is that its pro-rata. So if you own the house for say 6 years, and have it as your main residence for 3 years, then you will be liable for  50% CGT . ...

To a point, but if you move in for 1 night you get the last 3 years of ownership classed as private.