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Capitol Gains Tax question
pampam
Posts: 435 Forumite
I have a property that I bought in 1986 for £3,000.
I lived in it as my main residence until 1997.
Since then I have rented it out and paid tax on the rent.
I would now like to sell and I expect to get approx £90,000 from the sale.
Can anyone tell me how much CTG I will be liable for.
Any advice greatly appreciated.
Thanks
pam
I lived in it as my main residence until 1997.
Since then I have rented it out and paid tax on the rent.
I would now like to sell and I expect to get approx £90,000 from the sale.
Can anyone tell me how much CTG I will be liable for.
Any advice greatly appreciated.
Thanks
pam
0
Comments
-
Thanks
I will have a look
Cheers
Pam0 -
if you are still struggling - CGT is not the easiest thing to get your head round, let me know and i can send you my own basic spreadsheet with a few hints and tipsPaying down the mortgage:
At 1 October 2011: £226,000
Currently: £224,499
Aim: 85% LTV (£212,500)
Paid £1,500
Target remaining: 88.89%0 -
Zero pounds according to my calculation.0
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