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Posted Tue, 09 Jan 2024 20:03:30 GMT by
We're using the online CTG calculator to try and complete our return after selling a property. The majority of the fields ask for the full costs ie. purchase price and sale price. My husband and I have to submit individual returns and it's not clear whether the Allowable Costs calculation is the full amount we paid (eg conveyancing/agency fees) or our contribution. I cannot find any guidance notes online. For example, say our total cost for selling the property was £1500. Should we each put £1500 into the calculator, or should we each put £750 for our allowable costs because it is split 50/50. Please can you confirm because we want to ensure the return is completed correctly?
Posted Tue, 16 Jan 2024 10:55:51 GMT by HMRC Admin 21 Response
Hi Fiona,
If a jointly owned property, you will split all incme and costs 50/50.
Thank you.

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