What can be claimed as expenses if you sell a second home to reduce CGT

Al_Ross

Please tell me what can be detucted when a second home is sold to reduce CGT.

I have heard all legal fees incurred when you bought and sold.

All improvement to the property,would this cover the cost of a new kitchen,carpets,wood flooring total redecorating interior and exterior and what about kitchen appliances left with the house i.e washing macine,hob,oven, dishwasher fridge freezer and all curtains and blinds.

These were all replaced new prior to sale to get top notch price can I detuct full values of these items againts my CGT.

laticsforlife

Al_Ross wrote: »

Please tell me what can be detucted when a second home is sold to reduce CGT.

I have heard all legal fees incurred when you bought and sold.

All improvement to the property,would this cover the cost of a new kitchen,carpets,wood flooring total redecorating interior and exterior and what about kitchen appliances left with the house i.e washing macine,hob,oven, dishwasher fridge freezer and all curtains and blinds.

These were all replaced new prior to sale to get top notch price can I detuct full values of these items againts my CGT.

Anything that is 'reflected in the state of the property on sale' can be included as part of the cost of the property (hence reducing the gain).

So that would include everything you have mentioned.