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Where Taxpayers and Advisers Meet

CGT on sale of flat.

Squibbs
Posts:30
Joined:Mon Sep 12, 2011 1:56 pm
CGT on sale of flat.

Postby Squibbs » Fri Oct 01, 2021 4:20 pm

Hello all,
I am selling a flat that is in a council block, that I have rented out for many years.
I would just like to know what I can claim for to reduce my CGT.
I don't think I can claim for the twice yearly Insurance, Ground rent, and Maintenance, but can I claim for extra maintenance that is added each year for:- any work on the communal areas, cleaning, lighting, etc.
Then comes the big expenses. Re-pointing the whole block, replacing sub frames & window lintels, external painting, installing new front door with entry system. The extras that costs thousands of pounds extra to the maintenance fees.
I haven't needed to do a great deal of internal work because is very small, but the biggest cost was new central heating boiler.
I doubt I'll be able to claim much, but it all helps.
Thanks in anticipation.

Squibbs.

pawncob
Posts:5090
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: CGT on sale of flat.

Postby pawncob » Sat Oct 02, 2021 7:44 pm

You can't claim any of those against CGT. They should have been claimed against the rental income.
With a pinch of salt take what I say, but don't exceed your RDA

Squibbs
Posts:30
Joined:Mon Sep 12, 2011 1:56 pm

Re: CGT on sale of flat.

Postby Squibbs » Mon Oct 11, 2021 11:16 am

Thanks Porncob,
The flat is now sold, so it looks like a hefty CGT bill to pay.
Regards.
Squibbs


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