The Complete Guide to Capital Gains Tax From a Home Sale

Capital Gains Tax needs to be paid to HMRC when you sell your home. This is the case when you have rented your home out to tenants and it became a buy to let property.

In this video you will learn about
- Why do you need to pay CGT when you sell your main home?
- Are there any tax reliefs when you sell your main home to reduce capital gains tax?
- What is Private Residence Relief also called PRR and how does it help you reduce your Capital Gains Tax liability
- How do you report Capital Gains Tax and how do you pay it?

#HMRC #Tax #CapitalGainsTax

[Laboratory_films]

Struggling to find a clear answer online, Owned my home, lived in it, bought a second property (didn't move in as it needed some work doing), so now I am moving into the second property and selling the first. I'll be selling the first property for about 15k more than I paid for it. Do I need to pay CGT?

[cjw]

Hi, we let our house for 5 years while traveling and we are home now, living in the house now for two years . We want to move . Will we need to pay tax ? thank you ...

[mushroomheart]

Love your content, thank you
My question: I've owned my home for 20 years
I rented it out for 2 years in 2009- moved back in in 2011
So I've lived in it for 13 years again since renting it (18 years main residence in total)
Am I now exempt from CGT? - you mentioned a 3 year rule
Thank you in advance

[ChrisB-rynk]

Hi, great video. I'm struggling to find a clear answer online - I bought a house in England (for my family home) mid 2013, I am a UK Citizen (Non UK Resident), who has worked overseas since late 2011. My family joined me over in the UAE between 2015 to 2022 and the house during that time was never rented out. If we sell the house to buy another property in England/UK am I liable for Capital Gains Tax? Any help or advice is greatly appreciated.

[adarshsrivastava]

I have sold my house in India and I have paid capital gain tax in India so do I need to pay again on UK

[dalehitchcock]

I bought my first house 7 years ago for 90k. Its now worth 180k. I am looking to buy a potential second property worth 120k. It needs a bit of doung up, so I was intending to move in for 2/3 years and rent out my first property.

After that, if i wanted to sell my first property, (change the second to a rental) ...what capital tax gains would i pay on the first property?

[frankduffy]

I have just sold a buy to let property that was mortgaged for approx £54k ...sold for £80k ...after solicitors fees etc. approx left with £19.6 k ....do i pay capital gains on this last figure?

[Tommy-gmuo]

Someone told me that if you do not buy somewhere with the sales (includnig capital gains) of a main residence property, then you could be charged CGT. For example if I moved in with family or just decided to rent I guess.

[romeocastillo]

Kung mag bussiness ako apartment o buy and sell o properry developer ano po magandang bussiness structure corporation o sole propriety ano ang advantage at dis advantage? Salamat

[WatchesGalore]

Basically pay tax on the money you paid tax already but then you have to pay a bit more tax becaue why not ???? 😳😳😳😳🤷🏼‍♂️🤷🏼‍♂️🤷🏼‍♂️🤷🏼‍♂️

[JohnnyB]

Hello
I bought house 4 months ago as First time buyer now my circumstances change so i need to sell this house. After paying off mortgage I will get £60k profit . Do i need to pay CGT if this is my only house my primary residental home?