Selling rental property purchased in early 70s

[abracadabra]

To calculate cgt after selling a house bought in the early 70s do you convert the original purchase price from punts to euros before applying the revenue indexation table calculation .? For example 10,000 punts became 12,700 euros in 2002. Thanks

 

[Fortune]

It makes no difference. Concert the index, or index then convert. Same result either way.

 

[abracadabra]

Thanks

 

[ClubMan]

For example 10,000 punts became 12,700 euros in 2002.

Just to be clear, the conversion is IR£1 = €1.269738

 

[Persia]

Take it this is a rental property or holiday home and not your principal private residence (where you have lived)?

 

[jpd]

How would that affect the conversion and indexation process?

 

[Persia]

How would that affect the conversion and indexation process?

Ppr is exempt from CGT.

 

[jpd]

That wasn't the question asked

 

[Brendan Burgess]

That wasn't the question asked

While it was not the question asked, it's critical to clarify that he is not talking about his PPR here.

Especially as it's in the "Buying and selling homes" forum.

Some people do not realilse that there is no CGT on their PPR.

 

[abracadabra]

Thanks everyone it was a rented house so liable. But I almost forgot the punts to euros conversion.