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Capital Gains on Property deduction question

edgarina
edgarina Posts: 13 Forumite
Part of the Furniture Combo Breaker
edited 4 March 2024 at 9:23AM in Cutting tax
Selling a Buy to Let property and making approx 40k.

Old property lots of work done which I understand is usually maintenance and not claimable.

I understand a complete re-wire might be claimable as didn't meet standards so had to be done.

I also changed the nature of the property from 3 beds to 2 beds as the "extension" was little more than a lean-to resting on the concrete backyard. This involved ripping the extension (bathroom) down and placing a bathroom in what was the 3rd bedroom, where I believe the original bathroom would have been many decades ago. Is this claimable again CGT?

Comments

  • subjecttocontract
    subjecttocontract Posts: 3,285 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    edited 29 February 2024 at 1:35PM
    Generally the cost of any work done immediately after purchasing but before first letting the property..... E.G. to meet legal requirements, make habitable etc is considered to be part of the purchase cost when calculating CGT.
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