Hi, I bought a property in April 2011 for £250,000 and lived in it for 26 months. I then let the property until I sold it after total of 85 months ownership for £310,000. In the unlikely event that I understand the rules correctly I think I add 18 months to the 26 to calculate the Private Residence Relief? I presume I then deduct the 18 months from the let period to calculate the Letting Relief. If this is correct I don't believe I will have a CGtax liability but we then come to the next question, How the hell do I report this calculation to HMRC? Form SA108 seems short of boxes! Box 4 "disposal proceeds", Do I deduct all the selling costs from that figure? Then Box 5, I presume I add stamp duty and all the other costs to the purchase price? I then put LET in Box 8 but where do I show the PRR and Lettings Relief I have calculated?
As you can see I am struggling, any help greatly appreciated. Thanks.
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