Hi there .I bought a flat in oct 2001 for 134000
and sold it for 165000 in 22nd april 05.it was bought for my use when i seperated from my wife witha mortgage. i did not tell anyone like the tax people i was living apart. i am now back with the wife in the main residence.the profit after all costs involved with the sale and purchase was 23967 . I declared this profit to the tax man on the 05/06 return. should i be paying tax in the difference of 23967 and the annual 8800? or were there allowances etc to avoid the tax please ? thanks
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