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Posted Sun, 08 Sep 2024 13:41:49 GMT by Beverly Ng
I was very confused and unsure, and I would be very grateful if you can advise is below calculation correct or not, thanks! My property bought in September 2009 at GBP300000. Sold in April 2023 at GBP600000. Sold and bought price difference = GBP300000 This was my main property from July/2010 to Dec/2021, number of months living in this property + 9 months ownership = 147 + 9 = 156, total number of months owning the property = 163, so the private resident relief = 156/163 = 95.71% My husband and I were joint owners, we had 50% ownership individually. Capital gain for each of us (after deducting private resident relief) = 300000/2 x (100-95.71)% = GBP6435/person Taxable capital gain for each of us (after deducting the capital gain allowance GBP6000 in 2023/24) = 6435 - 6000 = GBP435/person Is the above calculation correct please? Thank you!
Posted Wed, 11 Sep 2024 14:12:11 GMT by HMRC Admin 10 Response
Hi
This forum is for general queries only and is intended to help you self-serve. We are unable to provide specific advice tailored to individual circumstances.
Please refer to the guidance:
Capital Gains Tax: what you pay it on, rates and allowances
Alternatively, you may wish to engage the services of a professional advisor/accountant to assist with your enquiry.

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