UK PAYING CAPITAL GAINS TAX AFTER SELLING YOUR SECOND HOME

[danny hunter]

Hi everybody , I'm new to all this and live in Northern Ireland UK .........Can anyone help me on this concern ...............I am selling my second home which is mortgage free and have received 4 offers so far , my question is " do I still pay capital gains tax if my intentions are to pay off the mortgage on my main first home , thanks if you can help me on this .

 

[Fidget]

Sale of your main home is exempt from capital gains tax. Sale of a second home is not. So any gain on the sale of your second home will be subject to capital gains tax regardless of what you intend to do with the proceeds.