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Where Taxpayers and Advisers Meet

CGT calc help please

Herbs16
Posts: 69
Joined: Wed Aug 06, 2008 3:53 pm

CGT calc help please

Postby Herbs16 » Fri Aug 17, 2018 9:35 am

Morning Forum
Can someone help on my numbers please to calculate the gain

Property jointly owned, husband and wife, rented throughout.

Purchased October 2007 for £90000
Purchase and selling fees £2908

Sold October 2017 for £125000

Thanks

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

Re: CGT calc help please

Postby Peter D » Fri Aug 17, 2018 11:16 am

I need more accurate dates and you individual income in the FY of disposal but it looks like this.
Purchase 90,000
Disposal 125,000
Total Gain 32,092
PRR 0 0
Capital Gain 32,092
Lett Relief 0 Qual Days
Net Gain 32,092
CG Allow 22,600
CGT 854 0
CGT 854 0

CGT Bill 1,709

Regards Peter

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

Re: CGT calc help please

Postby Peter D » Sat Aug 18, 2018 9:47 am

Read this.
https://www.gov.uk/tax-sell-property/work-out-your-gain

This may apply to you.

Regards Peter


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