I bought a house in London in 2006 and lived there until December 2012. I then bought another house in Kent for my kids' education purposes. The London property has been rented since 2012. Our plan was to go back to London after schooling. But now since they are going to university I would like to sell my London house and buy our new home nearer the university. I would just like to know about my capital gains tax (CGT) position when I sell my London property. 

Arthur Weller replies:  

You will be eligible for principal private residence relief for the six years you lived in the house (i.e. 2006 to 2012), plus a further nine months’ final period exemption. Let's say the capital gain is (conveniently) £140,000; this equates to £10,000 gain per year. So you are eligible to £67,500 relief from the £140,000 gain (plus the capital gains tax annual exemption £12,300, if it is available to you).