Think You’re Exempt? Here’s When the CGT Might Still Hit Your Only Home

If you own one home and live in it, Labour’s proposed capital gains tax (CGT) likely won’t apply to you — but there are exceptions that could catch some homeowners by surprise.

Under Labour’s plan, capital gains on residential and commercial property would be taxed at 28%, but the family home is exempt. However, defining what counts as a “family home” isn’t always straightforward, and in some cases, people who only own one property could still face a tax bill.