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Help required from property tax experts!

Posted by NadiaG-192314 - Created: 14 years ago
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Hi,

I am about to buy a flat that I want to use as my main residence. However, I think I am likely to move out after a couple of years. If I do so, I will either consider letting it out or selling it in order to purchase another place which will become my main residence.

1. If I rent it out and the money generated by rental is less than the mortgage, do I still have to pay tax?

2. If the property value goes up, do I have to pay CGT when I sell it?

Many thanks in advance for your time and advice

Nadia

Nadia

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