Capital Gains Tax and the "Provided living accommodation exemption"

Discussion in 'Finance, Property, Law' started by old_bloke, May 26, 2011.

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  1. Trying to find out about capital gains tax as might have to sell the UK hutt at short notice.

    Has anybody claimed the " Provided living accommodation exemption " when selling their second home in the UK ?

    Just wondering as I was in Service provided housing for 27 years (until 2007) and bought the property in 1987.

    I have spent the last 4 days scouring the HMR&C web-page and its doing my head in.

  2. I am working on something similar but cannot guarantee that I will be able to help you.

    Just to confirm: You bought in 1987. You haven't lived in it. It was your only house until 2007 when you bought another house?

  3. Yes but I might have a Brucey Bonus as I bought it for my Disabled Mother to live in so I might also be exempt due to the "But, if you bought the property before 5 April 1988, you may get Private Residence Relief if it was purchased for:

    an infirm relative unable to live independently "