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URGENT QUERY - Expenses related to property repossessed by Mortgage Lender

Answer
KMPTaxquery
Posted Tue, 26 Nov 2024 11:42:16 GMT by KMPTaxquery
Can we claim the expenses related to repossession of property by Mortgage Lender while calculating the Capital Gains Tax?
Answer
HMRC Admin 19 Response
Posted Tue, 03 Dec 2024 10:15:01 GMT by HMRC Admin 19 Response
Hi,
No, you cannot.
Thank you,
Answer
KMPTaxquery
Posted Tue, 03 Dec 2024 11:28:49 GMT by KMPTaxquery
What if the property was voluntarily surrendered by the owner and there have been significant expenses due to this, can such expenses be deducted as disposal costs?
Answer
HMRC Admin 19 Response
Posted Fri, 06 Dec 2024 14:22:40 GMT by HMRC Admin 19 Response
Hi,
No, they cannot. You can see guidance here:
CG15250 - Expenditure: incidental costs of acquisition and disposal
Thank you.

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