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Where Taxpayers and Advisers Meet

Capital Gains on a property I bought for my Mother

Munsy100
Posts:2
Joined:Wed May 24, 2017 11:49 am
Capital Gains on a property I bought for my Mother

Postby Munsy100 » Wed May 24, 2017 12:01 pm

I have an income of £8K therefore a non tax payer.
I bought a property for my mother in June 2014 for £95K
I sold it in July 2016 for £118K
Obviously I have solicitors fees and the initial refurbishment costs to be included in the CGs calculations I was looking for a spreadsheet layout (example) i could follow that would allow me to do the correct calculation for a forthcoming tax return ?
Can anyone help
Thanks

pawncob
Posts:5090
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Capital Gains on a property I bought for my Mother

Postby pawncob » Fri May 26, 2017 11:04 am

Use HMRCs online CGT spreadsheet, or the paper one that comes with the return (download this at https://www.gov.uk/government/publicati ... mary-sa108
With a pinch of salt take what I say, but don't exceed your RDA

Munsy100
Posts:2
Joined:Wed May 24, 2017 11:49 am

Re: Capital Gains on a property I bought for my Mother

Postby Munsy100 » Tue Jun 06, 2017 8:48 am

Thank you Pawncob - thats exactly what I was looking for


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