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Where Taxpayers and Advisers Meet

Property CGT

phil4711
Posts: 7
Joined: Wed Dec 05, 2018 11:37 am

Property CGT

Postby phil4711 » Fri Dec 14, 2018 5:01 pm

Q1. Say that the value of an inherited property was £500,000. I then spend £50,000 on a conservatory. If in the future i sell the house for £600,000, can i deduct the cost of the conservatory to reduce my CGT bill?

Peter D
Posts: 10666
Joined: Wed Aug 06, 2008 3:37 pm

Re: Property CGT

Postby Peter D » Fri Dec 14, 2018 5:13 pm

Yes a conservatory is a capital expense and is deductible in the calculation of CGT. Regards Peter

phil4711
Posts: 7
Joined: Wed Dec 05, 2018 11:37 am

Re: Property CGT

Postby phil4711 » Fri Dec 14, 2018 5:23 pm

OK thanks for that.


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