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Answered in 13 minutes by:
4/20/2011
Tony Tax, Tax Consultant
Category: UK Tax
Satisfied Customers: 16,712
Experience: Inc Tax, CGT, Corp Tax, IHT, VAT.
VerifiedHi.
If you can let me have the following information for each property I'll do some calculations for you:
PROPERTY 1
1 The month in 2001 you bought the first property and what it cost.
2 The month in 2002 you moved out and tenants moved in.
3 The month in 2006 the tenants moved out and you moved back in.
4 The month in 2008 you sold the property and what you sold it for.
PROPERTY 2
1 The month in 2003 you bought the property and what it cost.
2 The month in 2004 you moved out and tenants moved in.
3 The month in 2006 the tenants moved out and you moved back in.
4 The month in 2009 the property was sold and what it was sold for.
There appear to be periods where you are saying that both properties were your main home. Can you clarify that please. Did you make an election for one of the properties to be treated as your main home within two years of acquiring the second one?
If you can let me have the following information for each property I'll do some calculations for you:
PROPERTY 1
1 The month in 2001 you bought the first property and what it cost.
2 The month in 2002 you moved out and tenants moved in.
3 The month in 2006 the tenants moved out and you moved back in.
4 The month in 2008 you sold the property and what you sold it for.
PROPERTY 2
1 The month in 2003 you bought the property and what it cost.
2 The month in 2004 you moved out and tenants moved in.
3 The month in 2006 the tenants moved out and you moved back in.
4 The month in 2009 the property was sold and what it was sold for.
There appear to be periods where you are saying that both properties were your main home. Can you clarify that please. Did you make an election for one of the properties to be treated as your main home within two years of acquiring the second one?
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