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Posted Tue, 12 Jul 2022 15:48:31 GMT by andy sutton
Having started the calculation on HMRC website, the following question is asked: How much did you sell the property for? If you owned the property with someone else, only enter your share of the sale value. This value is way higher than what I received as I had a mortgage to redeem on it, so the sale figure is vastly different to what I received from the sale but there is nowhere to put this figure?? I am entitled to PRR which brings the amount owing down, but am baffled as to what sum they require - is it the sale value or what I received AFTER mortgage is repaid? Thank you.
Posted Thu, 14 Jul 2022 12:06:36 GMT by HMRC Admin 24

The sale value is what the property actually sold for, you cannot deduct the mortgage as an expense.

Thank you.

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