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Where Taxpayers and Advisers Meet

CGT on BTL that was previously main residence

gmw
Posts:2
Joined:Wed Sep 05, 2018 1:39 pm
CGT on BTL that was previously main residence

Postby gmw » Thu Sep 06, 2018 12:50 pm

Please can someone advise the amount of capital gain that would apply in the following situation.

We purchased our home in 1994 for £50,000 and lived in it for 17 years, at which point it was valued at £120,000. We then decided to move, but keep this property as a Buy to Let. The property is now worth about £170000. During our occupancy we have done improvements such as a conservatory, extension, new kitchen, bathroom etc.

So if we sold it would the gain be £170,000 - £50,000 - home improvements - private residential relief ?

Thanks

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

Re: CGT on BTL that was previously main residence

Postby Peter D » Thu Sep 06, 2018 1:25 pm

And - Letting Relief.
Please provide dates, at least mm/yyyy and the costs of the capital additions. And the cost of purchase fees, and legal fees of sale. Regards Peter


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