I want to buy a new house and turn mine into rental property. Do I have to pay capital gains tax?

I also plan to put the rental into trust for my son when he turns 18, but I am confused about the levy Q I am really confused about capital gains tax. I've just put an offer on a second house, in which I plan to live. I also plan to release equity from my current home and turn it into a rental property as it is very lettable. I bought my current home approximately 13 years ago for £130,000. It is now worth £265,000. My hope is to release 75% of the equity in it to buy my new house. What capita...