we need to sell our second home. what are the capital gains tax implications? /

Published at 2015-01-29 09:00:27

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We purchased a small flat to be near our daughter, but now we want to be closer to her on a full-time basisQ We maintain a second domestic (a small apartment) in Dorset which we bought in October 2011 in order to visit our daughter in Dorchester for a few weeks at a time since our main domestic in Norfolk. This second domestic was never let and was solely used for our own private visits to Dorset.
In August 2014 we sold our main property in Norfolk and purchased another larger property in Dorset so to be closer to our daughter and grandchildren on a full-time basis. As a consequence we no longer need the smaller apartment.
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Source: theguardian.com

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