New Posts For Thread: Capital Gains...https://community.betfair.com/tradefair__financials/go/thread/view/94198/25572705/capital-gainsIf I own two houses, living in one and having the other as a holiday home and sell the one I'm living in then move into rented accommodation and sell the second house (so at this stage the only one I own), will I still have to pay capital gains?If you are married you can put the property in joint names and then dispose of it. Thus utilising two lots of CGT allowances, currently 10,100 each. You can also offset the exclusive buying, selling and stamp duty costs you have incurred, off any ghttps://community.betfair.com/tradefair__financials/go/thread/view/94198/25572705/capital-gains?post_id=461078773#461078773If you are married you can put the property in joint names and then dispose of it. Thus utilising two lots of CGT allowances, currently 10,100 each. You can also offset the exclusive buying, selling and stamp duty costs you have incurred, off any gMon, 09 Aug 2010 12:26:03 -0500Thanks for the reply. Have never actually lived there though it has always been rented out. Would I have to live there for 2 years then?Is that the only way around it?https://community.betfair.com/tradefair__financials/go/thread/view/94198/25572705/capital-gains?post_id=461068537#461068537Thanks for the reply. Have never actually lived there though it has always been rented out. Would I have to live there for 2 years then?Is that the only way around it?Mon, 09 Aug 2010 11:15:23 -0500As you will be living in rented accommodation your other home will not be your principal place of residence, so you will be liable for CGT. You might consider selling your existing home and moving into your other property for around two years. Thathttps://community.betfair.com/tradefair__financials/go/thread/view/94198/25572705/capital-gains?post_id=461045405#461045405As you will be living in rented accommodation your other home will not be your principal place of residence, so you will be liable for CGT. You might consider selling your existing home and moving into your other property for around two years. ThatMon, 09 Aug 2010 08:12:00 -0500If I own two houses, living in one and having the other as a holiday home and sell the one I'm living in then move into rented accommodation and sell the second house (so at this stage the only one I own), will I still have to pay capital gains?https://community.betfair.com/tradefair__financials/go/thread/view/94198/25572705/capital-gains?post_id=460975141#460975141If I own two houses, living in one and having the other as a holiday home and sell the one I'm living in then move into rented accommodation and sell the second house (so at this stage the only one I own), will I still have to pay capital gains?Sun, 08 Aug 2010 15:58:18 -0500