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Where Taxpayers and Advisers Meet

CGT on property

cliff99
Posts:12
Joined:Mon Apr 10, 2017 3:20 pm
CGT on property

Postby cliff99 » Sat Jun 06, 2020 12:13 pm

I own a number of properties that I rent out and which constitutes a significant part of my income.
I have recently sold one of my properties and it has generated a capital gain. The remaining properties continue to be let
I have been informed that this sale will qualify for the 10% entrepreneur's CGT. rather than the 20% CGT on property sales.
Is this correct?

pawncob
Posts:5099
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: CGT on property

Postby pawncob » Sat Jun 06, 2020 12:42 pm

https://www.taxationweb.co.uk/forum/viewtopic.php?f=4&t=54103&p=198864&hilit=letting+as+business#p198864
With a pinch of salt take what I say, but don't exceed your RDA

bd6759
Posts:4270
Joined:Sat Feb 01, 2014 3:26 pm

Re: CGT on property

Postby bd6759 » Sat Jun 06, 2020 2:13 pm

https://www.gov.uk/government/publications/entrepreneurs-relief-hs275-self-assessment-helpsheet/hs275-entrepreneurs-relief-2020

The penultimate paragraph of section 6

Also, your business hasn’t ceased. It’s carrying on.


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