Capital Gains Tax

[joannarom]

I owned a property from 1996 - 2006, I lived there for 2 and a half years, rented it out for the remainder bar 12 months when empty. Whilst not living there I did live in nursing work, living in my clients homes. I didn't have accomodation except for the final 3 years when I rented another flat.

The profit I made was 60,000 over the 10 years. With ppr relief and letting relief and the 36 month rule can anyone help with what I am likely to owe in CGT?

Thanks in advance for any help.

[dustypuss]

dont tell you might get away with not having to pay I did ;-)

[buildersmate]

It's complicated, and there isn't enough information given to work out how much the capital gain you achieved during critical periods.
For example, the final 36 months prior to selling are always exempt from CGT because you can claim Private Residence Relief, even if you had the property rented out in that period. You can immediately see that the timings when you had tenants in and when you didn't is going to be important in the calculation.
I suggest you peruse these 2 pages from HMRC which will help you understand it better.
http://www.hmrc.gov.uk/cgt/property/reliefs.ht m
http://www.hmrc.gov.uk/cgt/property/sell-own-h ome.htm

[joannarom]

many thanks for taking the time to get back to me