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Where Taxpayers and Advisers Meet

CGT calculation

Joined:Wed Aug 06, 2008 3:53 pm
CGT calculation

Postby Herbs16 » Tue May 29, 2018 8:33 am

Hi forum

Can someone help me out please

My colleague purchased a property in October 2003 for £71000, fees of £1000
He lived in it until July 2010, then rented from Aug 10 to 31/7/17, then vacant to 19/1/18 when it was sold for £90000, fees of £1513

any tax liability please?

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

Re: CGT calculation

Postby Peter D » Tue May 29, 2018 9:22 am

Due to PPR and letting Relief There is no CGT liability on the sale but you still have to report the sale to HMRC. Regards Peter

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