UK Landlord Forum / Life

I wish to sell a buy to let property I have owned for 20 years to fund a new BTL property. Would I be liable to tax liability if I purchase new property for more or same amount of the sale of current property? TIA.

Yes, the gain on sale of the old property would become liable to Capital Gains Tax: unlike some business assets it's not eligible for rollover relief. That may not be a bad thing if the sale goes through before the chancellor starts messing with CGT. If you have a spouse it may be in your interests to split the property between you before the sale so that you've got two lots of CGT allowance to play with.

There is also stamp duty, of course.