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Where Taxpayers and Advisers Meet

CGT calc

Herbs16
Posts:79
Joined:Wed Aug 06, 2008 3:53 pm
CGT calc

Postby Herbs16 » Tue Jun 07, 2016 10:25 am

Hi Forum
I need someone to help on my cgt calc pls

Mr and Mrs purchased a rental property in 2006 for £194k
Rented out 50% of the ownership
Selling next month for £270k

Mr income for 16/17 £27500
Mrs income £18k

Can someone give me an estimate of CGT please? is letting relief claimable? it was never lived in by the owners

Many thanks

Peter D
Posts:10668
Joined:Wed Aug 06, 2008 3:37 pm

Re: CGT calc

Postby Peter D » Tue Jun 07, 2016 12:27 pm

Purchase 194,000 14/06/2006
Disposal 270,000 14/07/2016
Total Gain 76,000
PRR 0 0 121
Capital Gain 76,000
Lett Relief 0 Qual Days 0
Net Gain 76,000
CG Allow 22,200
CGT 2,790 3,192 HIS
CGT 4,500 532 HERS

CGT Bill 11,014

No LR as they never lived in the property. Regards Peter


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