Thanks RedOnion,
I want to make sure I'm considering everything.
I'm another reluctant landlord wanting to exit from an over-regulated area where the Landlord is seen as the bully.
I want to sell the house now but may have to wait 10 months by complying with the rules. Nuts.
Anybody know of any other reliefs?
@Ahafan,
If you do a search on the tax forum you should find lots of examples and scenarios that might give you info.
If purchased prior to 2004, there's indexation available (although likely small). All costs associated with purchase / sale, including solicitor & estate agents.
Your personal annual exemption for the year you sell (double if you're married)
Any costs of enhancement that have changed the value - eg if you built an extension. Think of the things that you weren't allowed to use as expenses in calculating your rental income for tax.
Thanks RedOnion, I thought from an admin perspective for revenue, the approach of using the value at the time the ptope5ty was first rented was odd but the guy who told me has a string of rental properties so I thought he might know what he was talking about.