CGT Formula

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I've had a really nice flat in London for 12 years, let out continously.

In that time its doubled in value.

I now want to move back to it and use it as my main residence (especially as its a direct hit for Osbornes tax increases)

I'm going to change the mortgage to a residential one and I expect to be resident for at least 3 years or longer.

Is there a formula in use to determine the amount of CGT I will be liable for when I eventually sell it?

In the last 10 years I've lived in a rented apartment elsewhere. Can I nominate the flat I own as my main residence?

26/02/2017 14:11

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Martin Co
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