Capital Gains Tax Question

mrwishywashy

Member

Join Date: Nov 2013

Posts: 6
#1

Capital Gains Tax Question

19-11-2013, 16:35 PM

Hello Gurus

I have what I hope is a simple question.

I purchased a property in November 2010 for 225k
I lived in it until July 2012 and spend 30k renovating.
Since then it has been let out whilst I have been away on business.
I now wish to sell the property for 450k.

How do I work out my CGT liability?

Thanks!
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TaxationPete

Senior Member

Join Date: Jan 2007

Posts: 2357
#2

19-11-2013, 17:25 PM

Read HS283 on the HMRC web site. If it was genuinely you home and only home then PPR would exempt you form any CGT liability. Regards Peter
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mrwishywashy

Member

Join Date: Nov 2013

Posts: 6
#3

20-11-2013, 14:27 PM

Thanks a lot!
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Gordon999

Senior Member

Join Date: Aug 2008

Posts: 10111
#4

25-11-2013, 12:12 PM

That looks fantasic - 100% gain in 3 years ?

Where is the location and what type of property did you buy ?
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Capital Gains Tax Question

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