CGT buy to let

G

GJB446

Guest
My wife & I brought a property 3 years ago as 'tenants in common' & now wish to sell. Purchase price was £100K, value now £130K. Rental losses after taking out relevant expenditure are about £1k over the 3 years. With a £30K profit & after taking our £8,500 CGT allowance each I calculate that we will have to pay tax on the remaining £13k. My questions are, can I offset the £1k rental loss against the £13k, & does taper relief apply as we have had the property for only 3 years?
Many thanks in advance...gjb
 
On that basis, you should get advice in the UK, preferably from a professional who can appraise you of all deductions, reliefs, filing dates etc. This is an Irish site and as such contributors are unlikely to know much about UK tax queries.
 
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