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Posted Fri, 31 May 2024 09:00:06 GMT by GEORGE ODURO
What is the CGT Rate to use on a sales of Garage located elsewhere and may not be in an appropriate location for use with the flat or house?
Posted Wed, 05 Jun 2024 08:41:38 GMT by HMRC Admin 25 Response
Hi GEORGE ODURO,
It depends on what your other income is, to see whether you will be liable at the basic rate or higher rate.
Please refer to:
Capital Gains Tax: what you pay it on, rates and allowances
The garage will come under other property/assets
Thank you. 

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