Hi, Can I please sense check the following approximate CGT calculation. Am I overlooking anything?
My question is mainly regarding period of ownership:
Lived in house June '16 to Nov '17 (29 months)
Owned house for 45 months
so 29+12/45 =PPR Relief?
Tax @ 33% 8,133
My question is mainly regarding period of ownership:
Lived in house June '16 to Nov '17 (29 months)
Owned house for 45 months
so 29+12/45 =PPR Relief?
Sale Price | 300,000 | Jun-16 | |
Purch Price | - 215,000 | Mar-20 | |
PROFIT | 85,000 | ||
LESS: | |||
Enhancement? NEW PLUMBING | - 1,000 | added new pipes and water tank | |
Solicitor cost when purchasing | - 5,524 | incl stamp duty and VAT on solic fees? | |
Solicitor cost when selling | - 1,600 | includes VAT? | |
Estate Agent when selling | - 3,630 | includes VAT? | |
engineer fees when purchased | - 363 | includes VAT? | |
CHARGEABLE GAIN | 72,883 | ||
Less Personal Exemption | - 1,270 | ||
Partial PPR relief | - 46,969 | lived in house from June 2016 to Nov 2017 (17 mnths plus final 12 = 29 mnths/ 45 mnths total ownership) | |
TAXABLE Gain | 24,644 |