Calculating CGT on sale of 2nd Property

[djc123]

I have a second property which is currently let, I plan to sell in the next 6 months when current tenancy ends.

Details are as follows and I am trying to calculate the approx. CGT that will be liable upon the sale...

Purchased in Nov 2001 - cost £249k
Main residence for 44 months to June 2005
Property let between July 2005 to Current tenancy ends 28th Oct 2017 - 144 month
Void periods through July 2005 - Oct 2017 3 months

The current est value is £480k

Current previous CGT losses to be off-set £14.5k (from sale of shares)

Would appreciate it if the following can be confirmed.

PPR = £74500
Letting relief = 40000
CGT allowance = 11300
Previous CGT losses = 14500

The above gives a potential chargeable gain of approx. £98k therefore at 28% = approx. £27500 CGT to pay.

Thanks in advance for any guidance

[maths]

How did you get PPR 74,500?

[bd6759]

How did you get PPR 74,500?

44 months PPR plus 18 months final period, less 3 months void = 59 out of 188 months ownership.

Don't see relevance of void periods for PPR purposes, so it should be 62/188.

[djc123]

Hvae just carried out another calculation based on the feed-back guys, how does this look

Sale Price 480000
Purchase price £249950

PPR 75868
Letting relief 40000
CGT 11300
Previous CGT allowance 14500

Total allowance 141668

Therefore

Sale Price = 480000 - Purchase Price 249950 +Total Allowances 141668 = Chargeable gain 88382 = 28% = 24747