I recently learned that in the US you can defer capital gains on a property sale, and use the capital to buy another without paying taxes using a 1031 exchange.
Is there something similar to that in the United Kingdom?
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3If you live in a property as your primary residence you are exempt from capital gains in the UK. Does that answer your question?– Robert LongsonCommented Jun 16, 2017 at 11:30
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1That is certianly an answer. I'm also interested to know about tax-protection vehicles for investment properties. Not that I have any yet– mkormanCommented Jun 16, 2017 at 11:35
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1The UK govt seems to have declared war on private landlords, and supposedly many are scrambling to get their properties into holding companies, which may now be a more tax efficient vehicle. E.g telegraph.co.uk/finance/personalfinance/investing/buy-to-let/…– timdayCommented Jun 16, 2017 at 22:30
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1 Answer
Assuming that what you want is a way to roll forward a capital gain on an investment property you’re selling, to the purchase of another investment property, then the answer is no. The capital gains tax becomes payable at the time of sale and the tax liability can’t be rolled forward or deferred. If the property you’re selling was your primary residence then there’s no capital gains tax liability at all.
answered Jun 30, 2019 at 5:27
