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Where Taxpayers and Advisers Meet

Disposal of buy to let

devon
Posts:53
Joined:Wed Aug 06, 2008 3:14 pm
Disposal of buy to let

Postby devon » Sun Sep 22, 2019 3:55 pm

I have just sold a “buy to let” property I have owned and rented out for 9 years.

I understand I am entitled to deduct from the gain the purchase and sale expenses and the current CGT allowance of £12000. is this correct?

Am I required to declare this gain immediately or can it await my self-assessment return for the 2019/2020 tax year due in April 2020

Any guidance would be gratefully received

AGoodman
Posts:1745
Joined:Fri May 16, 2014 3:47 pm

Re: Disposal of buy to let

Postby AGoodman » Mon Sep 23, 2019 10:14 am

Current rules still provide for the usual self assessment process and tax return.


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