Cgt periods when owner is liable

  • Filter
  • Time
  • Show
Clear All
new posts

    Cgt periods when owner is liable

    Flat let for 2 years now not occupied by owner. Will it just be the 2 years let or the whole period when the owner is not occupying that counts for CGT?

    CGT is payable unless Private Residential Relief is applicable, so you're liable for CGT for the entire period when the property wasn't your main residence.
    When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
    Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).


      Depends on rules operating when you sell. I'm expecting CGT rules to become more painful to pay for Covid-19 and Brex*****

      Rules today are all very interesting but....
      I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...


        The whole period it is not your ONLY principle private residence. So even if you are occupying it might not count either.


          The total capital gain after sale of property is apportioned between period under self occupation and under rental period .

          The capital gain under the rental period is taxable at 18% or 28% after the personal capital gains allowance of £12,300 is subtracted from the taxable capital gain.


          Latest Activity


          • Reply to Accountant
            by Gordon999
            £250 is reasonable according to this website :


            But some online companies will offer tax return service at lower price.
            04-03-2021, 13:39 PM
          • Accountant
            by Bridge2020
            Any ideas how much an accountant would charge to do my self assessment ?
            04-03-2021, 10:25 AM
          • Reply to How do I reclaim tax withheld by my company via a CT61?
            by tjlcont
            I complete the CT61 form for the company it does not allow me to provide details of who it is being withheld from. So I am very confused how HMRC connect the CT61 cash received from the company, and the personal tax account that it is being applied against....
            Expert advice, Reviews and tailored insights to find contractor services that are right for you.
            04-03-2021, 08:54 AM
          • How do I reclaim tax withheld by my company via a CT61?
            by JamesHopeful
            Here's the situation:
            • I am borrowing money in my own name, and re-lending it to my company.
            • My company pays me exactly the same interest rate as I personally pay to the bank, so I do not make any "profit" on the re-lending and therefore I should not incur any personal tax liability due
            17-12-2017, 11:14 AM
          • Reply to Tax for renew lease
            by Gordon999
            The advice given to me some 10 years ago is that the leaseholder has liability for capital gains tax after the property has been sold, but not after lease extension. This applies if the leaseholders own the freehold title and are on both sides of the lease extension transaction. But if the lease extension...
            03-03-2021, 12:38 PM
          • Tax for renew lease
            by jimmylau8080
            I going to receive my new 999-year lease with no ground rent payable is given to the leaseholder, after I paid around £7,000 to extend my current flat from 89 years lease to a 999-year lease with no ground rent payable.

            I received a piece of advice that there are income tax implications....
            28-02-2021, 10:50 AM
          • Reply to Deed of trust for tax efficiency
            by ThePalmist
            So I have been calling lawyers, LR and Tax office.

            LR says there is note about split beneficial interest on register but I have to request a copy.
            Lawyers say they posted me DOT in January but I have not received it.
            Tax office say that I need to fill the form 17 within 60 days...
            01-03-2021, 19:06 PM
          • Deed of trust for tax efficiency
            by ThePalmist
            Hi All,

            New here and been receiving conflicting advice.

            So I will try and be as informative as I can.

            I have a consent to lease on a mortgaged property which I am currently renting out. Mortgage is in my name only and fixed in a 2.5% deal till 2023.

            12-10-2020, 17:33 PM
          • Reply to Deed of trust for tax efficiency
            by jpkeates
            I'm a little confused to be honest.

            The deed is enough to change the percentage of ownership, there's no need to register it with the land registry, although obviously you can.
            I think that the deadline for the HMRC notification is 60 days - hopefully the lawyers who made the deed...
            01-03-2021, 13:59 PM
          • Reply to CGT Sense check (& Question re. having earlier re-mortaged on my own home)
            by Gordon999
            Has any part of the renovations cost been charged as operating expense against the rental income ?

            If no, then liability to cgt on £113K looks correct. If your income from employment is over £50K, then 28% tax rate is correct
            01-03-2021, 13:54 PM