Capital Gains Tax when Selling a Property

It  can be fairly simple to calculate the gain when you dispose of a property (the difference between the cost of the property and what you sell it for).

However, the sales price could include furniture, fixtures, white goods, adjustments to reflect water rates or warranties etc. These amounts should be excluded when working out your gain, as they are not taxable.

You should ask your Solicitor when selling a property to split out the extras on your Completion Statement for clarity and ease when calculating your gain.

If you need any help with CGT calcucations the please give us a call on 01908 227055

 

 

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