CGT on House sale and exemptions

P

paperclip

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Hi, I'm selling a jointly owned house and working out my CGT, I'm pretty sure I owe very little, would appreciate any feedback in case I'm missing something.

Sale price, 345,000
Purchase price, 317,500

Costs of Purchase, 3,500
Costs of Sale, 7,500

Taxable gain, 16500, my taxable gain, 8250

Primary residence for 6 out of 14 years, so 8/14ths comes to 1556

First 1,270 is exempt.

So my tax owed is 286

Does that sound about right? Any other exemptions I'm missing?
 
As you are claiming the ppr exemption partially, I believe the final year of ownership prior to sale would also be deemed as ppr and subject to exemption from CGT. I stand to be corrected. Perhaps someone else could comment.
 
Total gain is 345,000 - 7,500 - 317,500 - 3,500 = 16,500
OP's share = 8,250
PPR relief = 6 + 1 (last 12 months is exempt) years = 7 / 14 = 50% = 4,125
Taxable gain = 8,250 - 4,125 = 4,125
Less annual CGT allowance 4,125 - 1,270 = 2,855
Tax due @ 33% = 942.15
 
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