You need to get some really good tax advice from a professional comapny like TaxCafe for example.
Firstly, as far as Im aware, if you have lived there since you owned it, and you then rent it, as long as you sell within 2 years, there is no CGT payable. (That might be 3 years, im suffering from Manflu and can't remember!)
Secondly, im sure that there is a second tax break for upto around 40k of rental income, and I just can't remember what that is called (Private Rental allowance or something like that).
But that is why you need good tax advice on this.
hope that helps !
Daniel Latto
The Think Tank Group
www.thethinktankgroup.co.uk
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