I am letting my current house where I have lived for 25 years, to move into a new house. I intend to sell this let property as soon as possible. Will there be capital gains tax (CGT) applied if the property is sold say within a year?

Arthur Weller replies:
If the property is sold any time up to 18 months after you move out of your former main residence no CGT will be payable by you because you are eligible for the 'final period exemption' which provides that the last 18 months of ownership of a main residence are always exempt, even if the owner buys a new main residence and moves into it