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Posted by kent
Hi,
We purchased a house about 6 months ago in Spain. It’s a big project and needs renovation which we are currently undertaking. We are still living and working in the UK and we go once or twice a month for a day or so to do odd jobs and meet trades people.
We want to get the Spain asap as soon as our new house is ready to move in to. But equally we want to sell our main house in the UK without having an capital gains tax liability on our UK house – which is our current home. We will spend some of the funds from our UK sale on our Spanish property and invest the rest.
Must we sell the house before we leave? Or can we move, then put the house on the market and sell it our leisure?
Ideally we would like to do a few jobs on the UK house to spruce it up before putting it on the market. But we want the simple route and preserve all the equity we have in our home in the UK.
If anyone can give us an sage advice we would be very appreciative.
regards,
K
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