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Capital Gains Tax calculation
Andykn33
Posts: 1 Newbie
in Cutting tax
I’m in the process of selling a house that I have rented out for about 8 years but prior to that was my only residence for about 7 years. I believe that I can claim some relief for the period I lived in it. Can you please advise how this is calculated/where I can find out this information.
Many thanks
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Comments
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It's calculated on a monthly basis. So total months of ownership, minus relief for the months you lived in it, minus the last 9 months of ownership regardless.
You can also set the cost of improvements (not replacements of maintenance) against the gain.
Just google CGT calculation, lot of info online incl. on gov.uk.No free lunch, and no free laptop
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