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Where Taxpayers and Advisers Meet

Capital Gains Tax ( Apportionment )

GANDONAS22
Posts:18
Joined:Sat Jan 19, 2019 12:06 pm
Capital Gains Tax ( Apportionment )

Postby GANDONAS22 » Sun Jan 17, 2021 7:31 pm

Guest house to be sold attracting an overall gain of £55K based on sales minus purchase.
Valuation Office Agency 42% non residential.
When calculating chargeable gain would residential relief be available on the portion of 55K , that is calculating 42% of 55K and then subtracting CGT personal allowances, chattel exemptions etc
Apologies for the novice question, just want to understand how this works
G

GANDONAS22
Posts:18
Joined:Sat Jan 19, 2019 12:06 pm

Re: Capital Gains Tax ( Apportionment )

Postby GANDONAS22 » Tue Jan 19, 2021 1:25 pm

Hi

Thanks to any viewers , managed to get an answer
Cheers
G


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