Tax on splitting property?

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    Tax on splitting property?

    Hi. Help needed please!

    Bought a property back in 2013 and got planning permission to split into two. One is rented out but the other was sold last year.

    What I would like to know for filling out my tax return is the following

    How do I work out the costs for my capital gain?

    Do I split everything 50/50?

    There were stamp duty and legal costs and the cost of renovations

    Thanks for help

    #2
    If the properties ended up exactly half the whole size, it's 50:50 (for the gain and the allowable items).
    Otherwise in line with the actual split.
    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).

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