This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

CGT calc help please

Herbs16
Posts:79
Joined:Wed Aug 06, 2008 3:53 pm
CGT calc help please

Postby Herbs16 » Fri Aug 17, 2018 9:35 am

Morning Forum
Can someone help on my numbers please to calculate the gain

Property jointly owned, husband and wife, rented throughout.

Purchased October 2007 for £90000
Purchase and selling fees £2908

Sold October 2017 for £125000

Thanks

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

Re: CGT calc help please

Postby Peter D » Fri Aug 17, 2018 11:16 am

I need more accurate dates and you individual income in the FY of disposal but it looks like this.
Purchase 90,000
Disposal 125,000
Total Gain 32,092
PRR 0 0
Capital Gain 32,092
Lett Relief 0 Qual Days
Net Gain 32,092
CG Allow 22,600
CGT 854 0
CGT 854 0

CGT Bill 1,709

Regards Peter

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

Re: CGT calc help please

Postby Peter D » Sat Aug 18, 2018 9:47 am

Read this.
https://www.gov.uk/tax-sell-property/work-out-your-gain

This may apply to you.

Regards Peter


Return to “Capital Gains Tax, CGT”