Tax on selling rental property

[1annrabbit]

There is a possibility of us selling the house that we rent out earlish next year. This house was my husbands home for over 18 years before we let it out last Feb. We have rented it out via an agent. This house does not have a mortgage on it. As it will have only been rented out for just over a year would there be any tax we would have to make on the sale and if for example it sold for £250,000, if so roughly how much would we be looking at?
Please could you answer in very simple plain English as I do get a bit confused at the best of times :o
Many thanks for any help, this is my first posting, but I'm sure there will be many more.

[TaxationPete]

If your husband lived in the property as his sole private residence, i.e. you lived there as well. then there will be no CGT on selling as it is covered by Private Residence Relief for the last 36 months of ownership. Read HS283 on the HMRC web site. Regards Peter

[1annrabbit]

Many thanks for your reply

[Telometer]

Not so fast.

To whom does the house currently belong? Who bought the house? And if the answers to these two questions are different, when did it change?