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Anyone good with capital gains tax?

1 reply

AC12theletterofthelaw · 09/05/2021 08:52

HMRC are closed today but I will call and ask tomorrow.

DH sold a rental property last year. We declared the gain within the time limit of 30 days.

I am pulling together his income and expenses from April last year.

The tenants moved out in June but the sale didn’t go through until October. We continued to have expenses after the tenants moved out, ie insurance and boiler cover.

My question is under expenses on the tax return should we include expenses from April to June when the tenants moved out or April to October when the sale went through?

OP posts:
Alwayscheerful · 10/05/2021 17:28

My understanding -
If the property was being marketed to let and you have documentation to verify this fact you may claim the expenses.
If the property was only being marketed to sell you cannot claim the expenses.

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