Morning taxationweb,
I wonder if I could pick your brains!
around 20 years ago a former council house was purchased (from the council) for a relatively small amount of money - I have held it for around 20 years and am now looking to sell it, but, as you can imagine the sales value is hugely different to the purchase price! So I'm assuming quite a large capital gains tax bill - am I correct in thinking that the allowances available for this would be limited to letting relief, plus the standard annual tax free CGT allowance - I suppose what I'm asking is, that there aren't any other particular reliefs / allowances available in such a scenario.
As always, thanks for any advice, JmB
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