how long can I own a property before paying CGT?

Question

When does a second property become liable for Capital gains tax

Answer 1

6 years you have to keep a second home before you sell it to avoid cgt

Answer 2

Property becomes liable for CGT when you sell it.
A second property if lived in at any time as your main residence can get favourable treatment for CGT purposes when sold particularly if let out as a domestic let when not your main residence.
For software to calculate at a reasonable price look up TAXCAFE on the Internet (UK).

Answer 3

in case you stay in it (continually) as your major or in simple terms domicile, then you really is not likely answerable for CGT. no matter if it isn't your position then i trust that you'd be probably answerable for CGT (relying on the benefit) regardless of ways lengthy you own it. See the HMRC website for more advantageous information. via ways the £250k threshold suggested above is faulty. what's crucial for CGT is the quantity of the benefit, no longer absolutely the price of the resources, and the side is at present £8,500.