Selling Rental Property - Can you claim for estate agent or solictors fees?

  • Filter
  • Time
  • Show
Clear All
new posts

    Selling Rental Property - Can you claim for estate agent or solictors fees?

    We have sold our rental property and closed the business.

    I am unclear if we are we able to account for the estate agent and solictors fees in our self assessment?

    From my understanding it goes in the capital costs section?

    However we paid some estate agents fees in 2013-14 but disposed of the asset in 2014-2015 where the remainder of the fees were paid.

    How do you put this on the tax form?

    Yes - such expenses should be included in your CGT calculation (which needs to be attached to your Tax Return) and the allowable costs on the CGT summary pages.


      What do you do if the costs are incurred over two seperate tax years though?


        It doesn't matter when the costs were incurred.

        CGT is due on disposal and is calculated as the entire proceeds less all costs associated with the sale less original purchase cost and associated costs of purchase less any improvement costs over the entire period of ownership
        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).


        Latest Activity


        • Capital Gains Tax
          by LVA
          Apologies if this has been covered in this website but I've looked and cannot find...

          I bought my flat in 1997, rented it out in 2001 (ish), returned to live in it in March 2020. Its approx 27 years ownership and 7 ish years living in it.

          My accountant tells me the CGT...
          16-08-2022, 12:59 PM
        • Reply to Capital Gains Tax
          by AndrewDod
          I think the point that is being missed here is that inflation *is itself* a type of tax.

          It is a tax on savings (on people who try to save so they they or their disabled child can cope without having to lean on the state instead of smoking it away).

          Put simply, government...
          17-08-2022, 20:20 PM
        • Reply to Capital Gains Tax
          by gnvqsos
          I believe CGT did adjust gains in line with the RPI and also had taper relief. This was rejected in the late 90s by GB.
          17-08-2022, 18:33 PM
        • Overseas
          by jase222
          I will be moving to Spain for between 6-9months and I will obviously be paying my taxes and I spoke to a Spainish tax accountant who said the authorities won’t be interested in anybody who stays for less than a year as long as you can prove you pay tax in your own country? I’ve never heard...
          17-08-2022, 08:05 AM
        • Reply to Overseas
          by jase222
          I sorted that out but but was surprised by his comments, I know all about Spainish residency as been there before , I am waiting for confirmation.
          17-08-2022, 16:41 PM
        • Reply to Overseas
          by Gordon999
          If you stay in Spain for 183 days or longer , you will become tax resident for Spanish Taxes. You can find this information by online search.

          You may need to obtain a certificate of tax residency from HMRC or from Spain, to avoid paying taxes twice.
          17-08-2022, 09:44 AM
        • Reply to Capital Gains Tax
          by doobrey
          Agree. CGT is supposed to be a tax on 'gains'. Like real ones. There is no 100% right/fair way of doing it but adjusting to an index wouldn't be difficult, and it would be lot better than doing nothing, as now. With the current system you can sell at a loss in real terms and still be taxed on your imaginary...
          17-08-2022, 08:19 AM
        • Reply to Capital Gains Tax
          by Flashback1966
          It is upsetting to pay tax on inflation.

          That is the problem with property. With stocks and shares you can sell a bit every year to make use of the CGT allowance.

          This is why there is a deterent to selling up....
          16-08-2022, 17:58 PM
        • Reply to Capital Gains Tax
          by gnvqsos
          If you a GOOD accountant they will advise on such matters-far more qualified than most forum members. If you pay £50k tax at 18pc you are taxed on £280k.Add allowance of £13k.You have made £295k gross,£245 net, and you want more? Pay your dues and count your stars(and cash)
          16-08-2022, 17:34 PM
        • Reply to Capital Gains Tax
          by jpkeates
          I wouldn't rule it out, but I think the case for anyone starting out to do it as a company is pretty overwhelming now, and that would make it more compelling....
          16-08-2022, 16:34 PM