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If they did remove the primary residence CGT exemption it'd be paid on profit, e.g.:
Sale price - £700k
Initial purchase price - (£500k)
Renovations - (£50k)
Profit on sale - £150k @ 28% tax = £42kI can't see this happening tbh. I'm all for taxing unearned capital appreciation but all this would do is stop people selling.
Nelly
Howard
They would have to sack off stamp duty if they put CGT on resi
Also nobody would improve their property
Wouldn’t be a win