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cgt
littlenuts
Posts: 8 Forumite
in Cutting tax
my son has a property that he rents out with no morgage never lived in the property owned 3 years 3 months after tenant leaves the property in june thinking of selling he give £75000 for the house will be selling for £127000 can anyone let him know how much cgt he will have to pay be very greatful
0
Comments
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gain is 127000- 75000 = 52000
he can deduct buying and selling costs
lets say 3000 so gain is now 49,000
he has a cgt allowance of 9200
so gain would be 39,800
then cgt at 18%
so he pays £7,1640
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