Expenses to offset CGT

efkay

My brother and I as joint tenants are about to complete on the sale of our late father's house, which we have owned for ten years. During this period the house was occupied by our step-mother, who had the right to live there under the term's of our father's Will, with her paying her own way to include maintenance of the house. She has since had to move into a residential home, hence the house sale.

Both my brother and I each own our respective houses and live some considerable distance from the property (I live in the south of France).

In working out the forthcoming CGT liability would we only be allowed to claim capital expenditure or could we claim the various out of pocket expenses such as the (expensive) empty house insurance, council tax, hiring of gardener to keep garden presentable and plumber's bill when a pipe leaked?

Working out my own CGT liability will be a different entity altogether!

Kynthia

You can't use revenue expenditure to reduce you CGT liability. The HMRC website should give you more info but it's the buying/selling costs along with capital expenditure like new windows and kitchen that count.

efkay

Thank you for your response; I truly thought I had legitimate expenses I could claim being a non-occupying owner. Ah well, it was worth asking.