newbie capital gains question

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    newbie capital gains question

    Hi

    What a fantastic resource this is. Anyhow, still none the wiser on the point below so any thoughts appreciated.

    For capital gains purposes, is it possible to deduct from a sale price a reasonable valuation for "furniture and fittings" included in the sale? Does the valuation need to be independently assessed by a surveyor, or noted on the contract of sale?

    thanks

    #2
    The capital gains figure should be calculated as

    = sales proceeds minus ( the original purchase price + legal costs) minus ( any expenses for improvement to the property ).

    Comment


      #3
      Originally posted by cadoova View Post
      For capital gains purposes, is it possible to deduct from a sale price a reasonable valuation for "furniture and fittings" included in the sale?
      As far as i'm aware 'fixtures & fittings' are part of the property and can't be separated. Also wouldn't any furniture be paid for separate from the property price, as otherwise the buyer would be paying stamp duty on an inflated property value that included furniture?

      Comment

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