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01 February 2010

i LIVED IN A HOUSE FOR 5 YEARS THEN RENTED IT OUT FOR 5 YEARS FROM WHEN DOES CAPITAL GAINS BEGIN?

I have been told that I must pay CGT on the whole profit from 1998 until 2008.Although if I sold it in 2003 when I started to rent it out I would not be liable for CGT. Can someone please explain.

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