PPR Relief when calculating CGT on property disposal

J

Jockey

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Hey Guys,

Looking for someone to check over my figures for CGT calculation for a family member.

Proceeds 170,000.00 Less : Legal Fees- 1,000.00 Net Proceeds 169,000.00 Purchase Price 77,454.02 Legal Fees 1,269.74 78,723.76 Indexation @ 1.212 95,413.20 Gain on Disposal 73,586.80 PPR Relief 64,258.90 Net Gain 9,327.90 Annual Exemption- 1,270.00 8,057.90 CGT 25% 2,014.48


PPR Relief

Living in house 124 months out of 142 months, rented out for the remaining time (took final 12 months of ownership as having lived there) = 73,586.80/142*124

Does this look right, being awhile since i done a calculation like this.

Thanks

Jockey
 
Were there no estate agents fees on the sale?

Do the solrs fees of €1,000 incl VAT?
 
No estate agent fees as person occupying the house is purchasing.

Solicitors fees include Vat as far as i know is that ok?

My main problem is how you calculate PPR relief and when the annual exemption is deducted. Revenue website does not have any examples for this transaction.

Cheers
 
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