Offsetting capital gains tax

holly_hobby

TINKERBELL wrote: »

My husband and I both own the property. It has never been our primary residence just our holiday home near our family.

Ok, well then you already have the bones of what the process is.

2 x CGT (£10,900 2013/14) against the gain (following deduction of any improvement costs, and other associated acq/disposal/prof fees) - reported equally in each of your annual SA return.

Tax basic rate payer 18%, Higher rate 28%.

Thats is.

Hope this helps

Holly