We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Deductions for capital gains tax on property sale
Fresen
Posts: 8 Forumite
in Cutting tax
Hello, my partner has sold his house and will need to pay CGT. In terms of deductions I know we can deduct costs of purchase, including solicitor fees.
My question is about three months after buying with his ex partner they separated, and he paid to have the house transferred to his sole name, and paid further solicitor fees. Can they be deducted as well, or is it one or the other? Hope that makes sense and any advice appreciated.
0
Comments
-
The additional fees are as a result of his acquisition of the second half of the property, so allowable. Was the house ever his main residence?0
-
Yes he lived there for a few years.Jeremy535897 said:The additional fees are as a result of his acquisition of the second half of the property, so allowable. Was the house ever his main residence?Thank you0 -
He needs to look at main residence relief:
https://www.gov.uk/government/publications/private-residence-relief-hs283-self-assessment-helpsheet/hs283-private-residence-relief-2021
1
Categories
- All Categories
- 347.2K Banking & Borrowing
- 251.6K Reduce Debt & Boost Income
- 451.8K Spending & Discounts
- 239.5K Work, Benefits & Business
- 615.4K Mortgages, Homes & Bills
- 175.1K Life & Family
- 252.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards