Capital gain tax

[Deleted User]

p00hsticks said:

Old_Git said:

p00hsticks said:

Owned for how many months ?
owned from 2005……………….

………………………………..

The CGT calculation uses months not years. so for the calculation you need the month you bought and the month in which you sell (exchange rather than completion I think) 

The date for CGT is when ‘the sale becomes unconditional’ - normally when contracts exchanged (made). 

Bookworm105

p00hsticks said:

Old_Git said:

p00hsticks said:

Owned for how many months ?
owned from 2005……………….

………………………………..

The CGT calculation uses months not years. so for the calculation you need the month you bought and the month in which you sell (exchange rather than completion I think) 

technically you should use days, but HMRC accepts months as a practical compromise, but that is irrelevant in the context of this thread. 

the time is only relevant for informing the calculation of the % value when claiming relief. If all you are doing is selling a property with no relief then dates have no impact on the gain calculation as that is always: selling price - purchase price - costs. No time factor in that.

[Deleted User]

Bookworm105 said:

p00hsticks said:

Old_Git said:

p00hsticks said:

Owned for how many months ?
owned from 2005……………….

………………………………..

The CGT calculation uses months not years. so for the calculation you need the month you bought and the month in which you sell (exchange rather than completion I think) 

technically you should use days, but HMRC accepts months as a practical compromise, but that is irrelevant in the context of this thread. 

the time is only relevant for informing the calculation of the % value when claiming relief. If all you are doing is selling a property with no relief then dates have no impact on the gain calculation as that is always: selling price - purchase price - costs. No time factor in that.

Yes I had assumed that poohsticks was aware of that and was simply trying to determine the effective date of disposal - or perhaps not?

Keep_pedalling

p00hsticks said:

Old_Git said:

p00hsticks said:

Owned for how many months ?
owned from 2005……………….

………………………………..

The CGT calculation uses months not years. so for the calculation you need the month you bought and the month in which you sell (exchange rather than completion I think) 

No calculations required the OP never lived in the property so no relief available.