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Posted Sat, 15 Jun 2024 22:26:14 GMT by Rich H
Hi, Are professional fees related to a transfer of equity claimable against Capital Gains Tax? Scenario: I bought a flat in 2010 in my own name. I married in 2017 In 2021 we added my wife's name to the title - a transfer of equity. This incurred professional fees. In 2021 we moved out of the flat and started renting it, meaning it was no longer our main residence. In 2024 we sold the flat. Because it was rented for part of our ownership, it is partly taxable for capital gains. I understand that professional fees such as solicitor fees and agent's commissions for both the purchase and the sale of the property can be claimed against capital gains tax. What about the transfer of equity, which occurred at neither the purchase or the sale but which is essential to the state of ownership at sale? Can solicitors fees (for example) be offset against the capital gain like other professional fees? Kind regards
Posted Thu, 20 Jun 2024 07:14:59 GMT by HMRC Admin 20 Response
Hi,
Please have a look at the exhaustive list at CG15250 (Capital Gains Manual CG15250 - Expenditure: incidental costs of acquisition and disposal).
Thank you.

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